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Past Issues

Florida Stands Against Debanking

Aug 16, 2024, 15:25 by Chip Beal

This week, I wrote a letter to Rep. Jim Jordan, chairman of the U.S. House Select Subcommittee on the Weaponization of the Federal Government, requesting an investigation into the insidious practice of "debanking." This abuse involves pressuring or working with banks to drop - or debank - honest individuals and businesses, which jeopardizes their ability to pay bills, make payroll, protect credit, maintain customers, ensure solvency and uphold their reputations. Debanking has exploded under the Biden-Harris administration. It must stop and bad actors must be held accountable. We must get back to evaluating banking consumers on their objective financial merits and return on investment - our democracy depends on it. 

Today, I am happy to announce the Florida Unclaimed Property Auction next weekend in West Palm Beach! There are going to be some outstanding items to bid on, including a men's gold ring with ruby's and diamonds, a lady's platinum and diamond Hamilton watch, and much more! The proceeds generated by this auction are used to help fund education in Florida, and unclaimed property owners can still claim the value of these items at any time. I am incredibly proud of my Unclaimed Property team, earlier this week I was able to announce that they returned more than $50 million of unclaimed property back to the pockets of Floridians. An estimated one in five Floridians has unclaimed funds, and I'm encouraging all individuals and business owners to search now for unclaimed property at FLTreasureHunt.gov. 

Lastly, today I announced the arrest of a Broward County unlicensed insurance adjuster. When unlicensed public adjusters take advantage of the system, every policyholder in the state loses. Insurance fraud drives up rates and devalues the professionalism of honest public adjusters and insurance agents. As Florida's insurance market continues to improve little-by-little, we will continue to assure companies and policyholders that fraud will not be tolerated in our state. 

 

Sincerely,

Patronis' Signature

Jimmy Patronis
Chief Financial Officer
State of Florida

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