Tex. Finance Code § 302.103
This is the official text of Tex. Finance Code § 302.103, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 302.103. EFFECT OF FEDERAL PREEMPTION ON LATE CHARGES.
Official statutory text
On loans subject to 12 U.S.C. Sections 1735f-7 and 1735f-7a, as amended, any late charges assessed are interest that is included in computing the amount or rate of interest on the loan and, therefore, covered by the federal preemption of state interest rate limitations.
Status: in_force · Read it on the official government site
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