HB 1350

Relating to a restriction on total charges charged for extensions of consumer credit that a credit services organization obtains for a consumer or assists a consumer in obtaining.

Principle Criteria

Free Enterprise

Property Rights

Personal Responsibility

Limited Government

Individual Liberty

Digest

HB 1350 caps the annual percentage rate (APR) of consumer credit extensions facilitated by credit services organizations at 36%. It defines APR to include all charges such as interest, fees, and any other consideration received by the organization. The bill restricts additional fees charged by credit access businesses to those explicitly disclosed and legally permitted.

Author (1)

Chris Turner

Contact the Author

Rep. Chris Turner

Capitol Phone:

(512) 463-0574

Capitol Office:

CAP 1N.5

E-Mail:

[email protected]

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