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BankersOnline.com Forums State-Specific Compliance Issues Texas Minimum Finance Charge
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#37219 - 10/15/02 10:47 PM Minimum Finance Charge
Lestie G Offline

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Joined: May 2002
Posts: 3,608
Near the Land of Enchantment
I have a 'New Texan' question: Are minimum finance charges prohibited/allowed by the credit code? I'm trying to determine if a minimum f/c would be allowable on consumer credit, secured or unsecured (no real estate). I understand it couldn't exceed usury, and I've found some other information on allowable fees - but haven't seen minimum f/c's addressed.
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#37220 - 10/16/02 01:55 PM Re: Minimum Finance Charge
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,750
On the Net
Look under Subchapter E, 342.201, especially (f) & 342.202, of the Texas Credit Laws.
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