{"data":{"id":"us-tx/tex.-finance-code-398.005","jurisdiction":"us-tx","citation":"Tex. Finance Code § 398.005","heading":"ADMINISTRATION OF CHAPTER; RULEMAKING.","body":"(a) The Office of Consumer Credit Commissioner shall administer, implement, and enforce this chapter.\n(b) Except as provided by Subsection (d), the Office of Consumer Credit Commissioner may:\n(1) bring enforcement actions for:\n(A) violations of rules adopted under Subsection (c);\n(B) failures to make disclosures required by Section 398.051; or\n(C) failures to register as required by Section 398.053;\n(2) terminate or suspend registrations; and\n(3) assess civil penalties.\n(c) The Finance Commission of Texas shall adopt rules applicable to providers and commercial sales-based financing brokers that identify unlawful, unfair, deceptive, or abusive acts or practices related to a transaction subject to this chapter. Rules adopted under this subsection must identify and prohibit specific acts or practices by providers or brokers that:\n(1) the commission considers unfair because:\n(A) the act or practice causes or is likely to cause substantial injury to a recipient that the recipient cannot reasonably avoid; and\n(B) the injury outweighs the benefits to recipients or to market competition;\n(2) are material acts or practices that will or likely will mislead a recipient who, given the circumstances, has a reasonable interpretation of the act or practice;\n(3) materially interfere with a recipient's ability to understand a term or condition of a commercial sales-based financing transaction; or\n(4) take unreasonable advantage of:\n(A) a recipient's lack of understanding of the material risks, costs, or conditions of the commercial sales-based financing transaction; or\n(B) a recipient's inability to protect the recipient's interest in selecting or using a commercial sales-based financing product.\n(d) The Finance Commission of Texas may not adopt a maximum annual percentage rate, finance charge, or fee for commercial sales-based financing transactions.\nAdded by Acts 2025, 89th Leg., R.S., Ch. 723 (H.B. 700), Sec. 1, eff. September 1, 2025.","path":["FINANCE CODE","TITLE 5. PROTECTION OF CONSUMERS OF FINANCIAL SERVICES","CHAPTER 398. COMMERCIAL SALES-BASED FINANCING","SUBCHAPTER A. GENERAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.398.htm#398.005","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"9a33048be00a6cb8a7fd4185b61b850caa4ae84170a5c117ddf524e294c3c172","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-398.004","next":"us-tx/tex.-finance-code-398.051"},"notice":"GroundRules: Original legal text. Not legal advice."}