Texas HB1350 restricts annual percentage rates for consumer credit extensions to 36 percent.

Texas HB1350 amends the Finance Code to restrict the annual percentage rate for extensions of consumer credit obtained by credit services organizations for consumers to no more than 36 percent. This includes interest, lender charges, and fees. The bill also allows credit access businesses to charge fees for their services, provided they are disclosed. The changes apply to extensions of consumer credit made after the bill's effective date of September 1, 2025.

Texas HB1350 restricts annual percentage rates for consumer credit extensions to 36 percent.

Texas HB1350 amends the Finance Code to restrict the annual percentage rate for extensions of consumer credit obtained by credit services organizations for consumers to no more than 36 percent. This includes interest, lender charges, and fees. The bill also allows credit access businesses to charge fees for their services, provided they are disclosed. The changes apply to extensions of consumer credit made after the bill's effective date of September 1, 2025.