Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER
Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES
Subchapter A - RULES FOR REGULATED LENDERS
Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS
Section 83.858 - Full Disclosure Requirements - Open-End and Revolving Loan Plans
Universal Citation: 7 TX Admin Code § 83.858
Current through Reg. 50, No. 13; March 28, 2025
(a) Any advertisement of an open-end or revolving loan plan that states any of the specific terms of that plan, must also clearly and conspicuously state the following items:
(1) the time period, if any, within which any credit extended may be repaid without incurring a finance charge;
(2) the method of determining the balance upon which a finance charge will be imposed;
(3) the method of determining the amount of the finance charge;
(4) the method by which any charge for insurance, if any, is to be calculated; and
(5) when periodic rates may be used to compute the finance charge, with the periodic rates expressed as annual percentage rates.
(b) For purposes of this section, compliance by an authorized lender with the federal Truth in Lending Act and its implementing regulations relating to open-end credit transactions will constitute compliance with the Texas Credit Title.
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