The bill amends the Deferred Presentment Service Transactions Act by updating the responsibilities and terminology associated with the management of a statewide database for deferred presentment service transactions. The term "commissioner" is replaced with "director" throughout the text, reflecting a shift in authority. The director is tasked with developing and maintaining a real-time, accessible database for licensees, which must undergo a pilot program before being deemed fully operational. The bill outlines the requirements for the database provider, including the need to prevent fraud and ensure compliance with privacy laws, and establishes protocols for handling transaction statuses and customer data.

Additionally, the bill specifies that the database must allow licensees to verify customer transactions and compliance with federal regulations. It mandates that the database provider must respond to technical difficulties and maintain data security. The director is granted the authority to investigate violations and enforce compliance, while also ensuring that customer data is retained only as necessary and deleted after specified timeframes. The bill emphasizes the confidentiality of customer transactional history and restricts access to sensitive information, with penalties for unauthorized access. The enactment of this bill is contingent upon the passage of Senate Bill No. 360.

Statutes affected:
Senate Introduced Bill: 487.2142
As Passed by the Senate: 487.2142