Two Local Banking Companies Shut Down
By: Kevin Character
Panama City Commissioners Veto Low Income Apartment Project
By: J. Michael Brown
Walton Commission Holds Executive Session
By: Allyson Walker
Florida Pulls Restrictions on Gulf Fishing
Source: Associated Press
Cyclists Bike 2500 Miles for Charity Project
By: Kevin Character
Head of Spill Response Visits Tyndall
By: Marc McAfee
Sallie Mae Employees to Possibly Work for BP
By: Nadeen Yanes
Elections Office Struggles to Slice Budget
By: Elizabeth Cate
Coastal Community Bank Taken Over by FDIC, Arkansas Bank
Source: FDIC
Panama City Police Searching for Burglary Suspects
Source: Panama City Police Department
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Tallahassee, Fla:
The action that Florida Cabinet members took to make it tougher for ex-felons to get mortgage broker licenses is vulnerable to a legal challenge and needs to be strengthened, according to Florida Attorney General Bill McCollum.
The Cabinet approved an emergency rule in August to tighten up the licensing process after the Miami Herald found more than 10,000 people with criminal records were issued mortgage broker licenses from 2000 to 2007. The Herald found that convicted felons bilked at least 85 million dollars from Floridians.
But McCollum says an investigation by his legal team found the rule cannot be enforced against ex-felons unless they committed crimes directly related to the licenses they are seeking.
Now he wants to change the rule so felons cannot get licenses to work in the mortgage industry or other positions of trust for at least seven years after they are released from prison.
McCollum says the bottom line is that the current rule is too broad.
McCollum hopes to revisit the issue when the clemency panel convenes again early next year.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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