Tex. Finance Code § 308.002
This is the official text of Tex. Finance Code § 308.002, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 308.002. FALSE, MISLEADING, OR DECEPTIVE ADVERTISING.
Official statutory text
(a) A creditor may not, in any manner, advertise or cause to be advertised a false, misleading, or deceptive statement or representation relating to a rate, term, or condition of a credit transaction or advertise credit terms that the person does not intend to offer to consumers who qualify for those terms.
(b) This section does not create a private right of action.
(c) In interpreting this section, an administrative agency or a court shall be guided by the applicable advertising provisions of:
(1) Part C of the Truth in Lending Act (15 U.S.C. Section 1661 et seq.);
(2) Regulation Z (12 C.F.R. Parts 226 and 1026) adopted by the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau; and
(3) the Official Staff Commentary and other interpretations of that statute and regulation by the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, and the staff of those agencies.
(d) If a requirement of this section and a requirement of a federal law, including a regulation or an interpretation of federal law, are inconsistent or in conflict, federal law controls and the inconsistent or conflicting requirements of this chapter do not apply.
(e) A creditor who complies with the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) and Regulation Z (12 C.F.R. Parts 226 and 1026) in advertising a credit transaction is considered to have fully complied with this section.
(b) This section does not create a private right of action.
(c) In interpreting this section, an administrative agency or a court shall be guided by the applicable advertising provisions of:
(1) Part C of the Truth in Lending Act (15 U.S.C. Section 1661 et seq.);
(2) Regulation Z (12 C.F.R. Parts 226 and 1026) adopted by the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau; and
(3) the Official Staff Commentary and other interpretations of that statute and regulation by the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, and the staff of those agencies.
(d) If a requirement of this section and a requirement of a federal law, including a regulation or an interpretation of federal law, are inconsistent or in conflict, federal law controls and the inconsistent or conflicting requirements of this chapter do not apply.
(e) A creditor who complies with the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) and Regulation Z (12 C.F.R. Parts 226 and 1026) in advertising a credit transaction is considered to have fully complied with this section.
Status: in_force · Read it on the official government site
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