Tex. Finance Code § 303.014
This is the official text of Tex. Finance Code § 303.014, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 303.014. RATE FOR LENDER CREDIT CARD AGREEMENT WITH MERCHANT DISCOUNT.
Official statutory text
On an amount owed for a credit card transaction under a lender credit card agreement that imposes or allows the creditor to receive a merchant discount, the creditor may not contract for, charge, or receive:
(1) a rate that exceeds the ceiling provided under Section 303.006(c); or
(2) a fee or charge that:
(A) is not allowed under Chapter 346; or
(B) exceeds the amount allowed under Chapter 346.
(1) a rate that exceeds the ceiling provided under Section 303.006(c); or
(2) a fee or charge that:
(A) is not allowed under Chapter 346; or
(B) exceeds the amount allowed under Chapter 346.
Status: in_force · Read it on the official government site
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