Texas HB768 amends the Finance Code to regulate credit services organizations and consumer credit extensions, including limitations on fees and.

Texas HB768 amends the Finance Code to regulate credit services organizations and consumer credit extensions. It sets income-based limitations on extensions of consumer credit, such as single-payment deferred presentment transactions and motor vehicle title loans. The bill also mandates that credit access businesses provide written disclosures to consumers, detailing fees, interest rates, and other charges. Additionally, it requires businesses to maintain records of all extensions of consumer credit for three years, including consumer information and documentation used to establish income.

Texas HB768 amends the Finance Code to regulate credit services organizations and consumer credit extensions, including limitations on fees and.

Texas HB768 amends the Finance Code to regulate credit services organizations and consumer credit extensions. It sets income-based limitations on extensions of consumer credit, such as single-payment deferred presentment transactions and motor vehicle title loans. The bill also mandates that credit access businesses provide written disclosures to consumers, detailing fees, interest rates, and other charges. Additionally, it requires businesses to maintain records of all extensions of consumer credit for three years, including consumer information and documentation used to establish income.