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79R13086 E
By: Villarreal, Pena, et al. H.B. No. 398
Substitute the following for H.B. No. 398:
By: Solomons C.S.H.B. No. 398
A BILL TO BE ENTITLED
AN ACT
relating to the regulation of tax refund anticipation loans;
imposing an administrative penalty.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subtitle B, Title 4, Finance Code, is amended by
adding Chapter 350 to read as follows:
CHAPTER 350. TAX REFUND ANTICIPATION LOANS
SUBCHAPTER A. GENERAL PROVISIONS
Sec. 350.001. PURPOSE; CONSTRUCTION. (a) The purposes of
this chapter are:
(1) to protect consumers who enter into refund
anticipation loans or refund anticipation check transactions from
abuses; and
(2) to ensure that consumers are fully informed of the
costs and consequences of refund anticipation loans and checks.
(b) This chapter shall be liberally construed to accomplish
its purposes.
Sec. 350.002. DEFINITIONS. In this chapter:
(1) "Applicant" means a person who applies for
registration as a facilitator.
(2) "Consumer" means an individual who singly or
jointly with another consumer is solicited for, applies for, or
receives the proceeds of a refund anticipation loan or check.
(3) "Creditor" means a person who makes a refund
anticipation loan or who takes an assignment of a refund
anticipation loan.
(4) "Facilitator" means a person who processes,
receives, or accepts for delivery an application for a refund
anticipation loan, delivers a check in payment of refund
anticipation loan proceeds, or in any other manner acts to allow the
making of a refund anticipation loan. "Facilitator" does not
include:
(A) a bank, thrift, savings association,
industrial bank, or credit union operating under the laws of the
United States or this state, when not engaging in tax return
preparation; or
(B) any person who acts solely as an intermediary
and does not interact directly with a taxpayer in the making of the
refund anticipation loan.
(5) "Refund anticipation check" means a check or other
payment mechanism:
(A) that represents the proceeds of a consumer's
tax refund;
(B) that is issued by a depository institution or
other person who receives a direct deposit of the consumer's tax
refund or tax credits; and
(C) for which the consumer pays a fee or other
consideration.
(6) "Refund anticipation loan" means a loan that is
secured by the proceeds of a consumer's income tax refund or tax
credits or that the creditor arranges to be repaid directly or
indirectly from the proceeds of a consumer's income tax refund or
tax credits. A refund anticipation loan includes the sale,
assignment, or purchase of a consumer's tax refund at a discount or
for a fee, whether or not the consumer is required to repay the
purchaser or assignee if the Internal Revenue Service denies or
reduces the consumer's tax refund.
(7) "Registrant" means a person registered as a
facilitator under this chapter or an officer, agent, employee, or
representative of a person registered as a facilitator under this
chapter.
Sec. 350.003. RESTRICTION ON FACILITATING REFUND
ANTICIPATION LOANS OR CHECKS. (a) A person may not, individually
or in cooperation with another person, solicit the execution of or
process, receive, or accept an application or agreement for a
refund anticipation loan or check or in any other manner facilitate
the making of a refund anticipation loan or check, unless the person
has complied with this chapter.
(b) A person may not use any device, subterfuge, or pretense
to evade the application of this chapter.
Sec. 350.004. RULES. The commissioner may adopt rules as
necessary to accomplish the purposes of this chapter and assist
facilitators in interpreting this chapter.
[Sections 350.005-350.050 reserved for expansion]
SUBCHAPTER B. REGISTRATION
Sec. 350.051. REGISTRATION REQUIRED; EXCEPTIONS. (a) A
facilitator shall register as provided by this subchapter.
(b) The commissioner shall maintain a list of registrants
that is available to interested persons and the public.
(c) A bank, credit union, or savings and loan association is
not required to register under this subchapter.
Sec. 350.052. APPLICATION FOR REGISTRATION. (a) An
applicant for registration as a facilitator must file a written
application with the commissioner accompanied by an application fee
in an amount determined by the commissioner. An applicant shall pay
a separate fee for each office at which the applicant intends to act
as a facilitator of a refund anticipation loan or check.
(b) An application must:
(1) be made under oath on a form prescribed by the
commissioner;
(2) contain all information required by the
commissioner; and
(3) identify each office at which the applicant
intends to act as a facilitator of a refund anticipation loan or
check.
Sec. 350.053. BOND. (a) Except as provided by Subsections
(d) and (g), an applicant shall file with the application a bond in
the amount of $50,000 for each office at which the applicant intends
to act as a facilitator of refund anticipation loans or checks.
(b) The bond must be in favor of this state for the use of a
consumer who has a cause of action under this chapter against the
facilitator. The bond must remain in effect for five years after
the facilitator ceases operation in this state.
(c) The bond must be conditioned on:
(1) the facilitator's faithful performance under this
chapter and rules adopted under this chapter; and
(2) the payment of all amounts that become due to a
consumer under this chapter.
(d) An applicant may apply to the commissioner for a waiver
of the bond requirement by demonstrating that obtaining a bond is a
hardship for the applicant and that the applicant has and will
maintain net assets of at least $25,000, indexed to inflation as
provided by Subsection (e), for each office at which the applicant
intends to act as a facilitator of refund anticipation loans or
checks. In this subsection, "net assets" means the difference
between total assets and total liabilities, as determined by
generally accepted accounting principles.
(e) As often as determined necessary by the commissioner,
the commissioner shall adopt an adjustment for inflation of the
amount of net assets required by Subsection (d). In adopting the
adjustment, the commissioner may consider any index of inflation
the commissioner considers appropriate.
(f) The assets of an applicant's parent company may be
considered in determining whether an applicant has sufficient net
assets under Subsection (d) if the parent company guarantees the
performance and financial responsibility of the applicant.
(g) A parent company may file a bond in an amount determined
by the commissioner, not to exceed $500,000, that is effective for
all of the parent company's franchise locations. An applicant
whose parent company files a bond under this subsection is not
required to file a bond with the application.
Sec. 350.054. REGISTRATION; CERTIFICATE. (a) The
commissioner shall register an applicant and shall issue a
certificate attesting to the registration if the commissioner finds
that:
(1) the applicant is authorized to provide electronic
tax filing services by the Internal Revenue Service; and
(2) the responsibility and general fitness of the
applicant commands the confidence of the community and warrants
belief that the business of facilitating refund anticipation loans
or checks will be operated according to the purposes of this
chapter.
(b) If the commissioner does not make the findings required
by Subsection (a), the commissioner may not register the applicant
and shall notify the applicant, stating the reason for the denial.
(c) On receiving a certificate of registration, the
applicant may act as a facilitator at each office identified on the
application for registration.
(d) The commissioner may adopt rules to:
(1) provide for an expedited procedure to register
additional offices of a registrant; and
(2) enable a registrant to change its registered
address.
Sec. 350.055. EXPIRATION OF REGISTRATION; RENEWAL. (a)
Registration as a facilitator expires on the first April 30
following the date the certificate of registration was issued.
(b) A registrant may renew a registration before the
registration expires by filing with the commissioner an application
for renewal in the form prescribed by the commissioner. An
application to renew a registration must contain all information
required by the commissioner and be accompanied by a fee in an
amount determined by the commissioner. A registrant shall pay a
separate renewal fee for each office at which the registrant
intends to facilitate a refund anticipation loan or check during
the succeeding year.
(c) The commissioner shall renew a registration on
receiving an application for renewal that complies with Subsection
(b).
Sec. 350.056. HEARING ON DENIAL OF REGISTRATION. (a) An
applicant is entitled to a hearing on written request made to the
commissioner not later than the 30th day after the date the
applicant receives notice of the commissioner's denial of an
application for registration. The hearing must be held not later
than the 60th day after the date the request is made.
(b) If the commissioner determines after the hearing that
the applicant is an electronic return originator authorized by the
Internal Revenue Service as an e-file provider and the
responsibility and general fitness of the applicant commands the
confidence of the community and warrants belief that the business
of facilitating refund anticipation loans or checks will be
operated according to the purposes of this chapter, the
commissioner shall register the applicant. If the commissioner
does not make the findings required by this subsection, the
commissioner may not register the applicant.
[Sections 350.057-350.100 reserved for expansion]
SUBCHAPTER C. INTEREST AND FEES
Sec. 350.101. REFUND ANTICIPATION LOAN FEE. (a) Except as
provided by Subsection (b) or (c), a fee or other consideration
charged by a creditor or facilitator in connection with making a
refund anticipation loan is considered a refund anticipation loan
fee.
(b) A fee or other consideration charged for a deposit
account used wholly or partly for receiving a consumer's tax refund
to repay the amount owed on the refund anticipation loan is
considered a refund anticipation loan fee.
(c) A fee or other consideration charged by a facilitator in
the ordinary course of business, including a fee for preparing or
electronically filing a tax return, is not a refund anticipation
loan fee if the facilitator charges the same fee in the same amount
to a customer who does not receive a refund anticipation loan or
check.
Sec. 350.102. REFUND ANTICIPATION LOAN RATE. A facilitator
shall disclose the refund anticipation loan rate in terms of the
annual percentage rate for the borrower's refund anticipation loan,
using the guidelines established under the Truth in Lending Act (15
U.S.C. Section 1601 et seq.). At the same time the facilitator
discloses the refund anticipation loan rate, the facilitator shall
disclose the total amount of all fees associated with the loan that
are not included in the computation of the refund anticipation loan
rate.
Sec. 350.103. CERTAIN CHARGES PROHIBITED. A facilitator
may not, in connection with making a refund anticipation loan or
issuing a refund anticipation check, directly or indirectly charge
or arrange for the charging of:
(1) fees for insurance;
(2) attorney's fees; or
(3) collection costs.
[Sections 350.104-350.150 reserved for expansion]
SUBCHAPTER D. REQUIRED POSTINGS AND DISCLOSURES
Sec. 350.151. DISPLAY OF CERTIFICATE. A registrant shall
prominently display a certificate issued under this chapter in each
place of business in this state where the registrant facilitates
refund anticipation loans or checks.
Sec. 350.152. FEE SCHEDULE POSTING. (a) A facilitator
shall display schedules showing the fees for:
(1) a refund anticipation loan or check, currently
charged by the facilitator at that place of business; and
(2) electronically filing a taxpayer's tax return.
(b) A schedule required by Subsection (a) must be:
(1) displayed in a prominent location in each place of
business in this state where the facilitator facilitates refund
anticipation loans or checks; and
(2) written in not less than 28-point type on a
document measuring not less than 16 inches by 20 inches.
(c) A schedule of the fees charged for refund anticipation
loans displayed under Subsection (a)(1) shall include:
(1) the refund anticipation loan rates and examples of
the rates charged for refund anticipation loans of $200, $500,
$1,000, $1,500, $2,000, and $5,000;
(2) the following title centered on the page in
boldfaced capital letters at least one inch tall: "NOTICE
CONCERNING REFUND ANTICIPATION LOANS"; and
(3) the following statement: "When you take out a
refund anticipation loan, you are borrowing against your tax
refund. If your tax refund is less than expected you must still
repay the entire amount of the loan. If your refund is delayed, you
may have to pay additional costs. YOU CAN GET YOUR REFUND IN ABOUT
_______________(average time, as published by the Internal Revenue
Service) WITHOUT GETTING A LOAN OR PAYING ADDITIONAL FEES. You can
have your tax return filed electronically and directly deposited
into your own bank account without obtaining a loan or paying fees
for an extra product."
(d) A facilitator may facilitate a refund anticipation loan
or check only if:
(1) the facilitator displays the schedules as required
by this section;
(2) the fee actually charged for the refund
anticipation loan or check is the same as the fee displayed on the
schedule; and
(3) the rate actually charged is the same as the rate
displayed on the schedule as required by Subsection (c)(1).
Sec. 350.153. APPLICATION DISCLOSURES. (a) A facilitator
has an affirmative duty to:
(1) explain to the consumer that the consumer has a
choice of methods for receiving a tax refund;
(2) disclose the availability and timing of receiving
a refund directly from the Internal Revenue Service without
incurring the cost of using a bank product, before describing any
available bank product; and
(3) provide clear, complete, and accurate information
about each available option, including receiving a refund directly
from the Internal Revenue Service.
(b) Before or at the same time the facilitator first
mentions or offers a bank product to the consumer, the facilitator
shall disclose to the consumer on a form separate from a refund
anticipation loan or check application:
(1) the fee for a refund anticipation loan or check;
(2) the fee for electronically filing a tax return;
(3) the time in which the proceeds of a refund
anticipation loan or check will be paid to the consumer if the loan
or check is approved;
(4) for refund anticipation loans:
(A) the following title centered on the page in
boldfaced capital letters and 18-point type: "NOTICE";
(B) the following statement: "This is a loan.
This loan is borrowing money against your tax refund. If your tax
refund is less than expected, you must still repay the entire amount
of the loan. If your refund is delayed, you may have to pay
additional costs. YOU CAN GET YOUR REFUND IN ABOUT __________
(average time, as published by the Internal Revenue Service)
WITHOUT GETTING THIS LOAN. You can have your tax return filed
electronically and your refund directly deposited into your own
bank account without obtaining a loan or other paid product.";
(C) disclosure of the refund anticipation loan
rate computed as set forth in Section 350.102; and
(D) the estimated total cost to the borrower for
the loan; and
(5) for refund anticipation checks:
(A) the following title centered on the page in
boldfaced capital letters and 18-point type: "NOTICE"; and
(B) the following statement: "You are paying
_____ (amount of refund anticipation check fee) to get your refund
through __________ (name of issuer of refund anticipation check).
YOU CAN AVOID THIS FEE AND STILL RECEIVE YOUR REFUND IN ABOUT
__________ (average time, as published by the Internal Revenue
Service) BY HAVING THE INTERNAL REVENUE SERVICE DIRECTLY DEPOSIT
YOUR REFUND INTO YOUR OWN BANK ACCOUNT. You can also wait for the
IRS to mail you a check. If you do not have a bank account, you may
wish to consider getting one."
(c) If a facilitator charges the consumer a fee for cashing
a check, the facilitator shall inform the consumer that if the
consumer has a bank account, the consumer's bank may cash the check
without charging a fee.
(d) A disclosure under this section must be written:
(1) in 14-point type unless otherwise noted; and
(2) in English, Spanish, and any other language in
which the refund anticipation loan or check is negotiated.
(e) A facilitator must disclose fees under this section
based on the best available information from the creditor. If the
terms of a loan change after the disclosure, the facilitator shall
notify the consumer, and the consumer is entitled to refuse the
loan.
Sec. 350.154. ALTERNATIVE APPLICATION DISCLOSURE. (a) A
facilitator may use disclosure language other than the language
prescribed by Section 350.153 only if the facilitator submits the
disclosure language to the commissioner. The commissioner shall
issue an order disapproving the disclosure if the commissioner
determines that the disclosure does not substantially comply with
Section 350.153 or rules adopted under this chapter.
(b) A facilitator may begin using the alternative
disclosure language on the date the facilitator submits the
disclosure to the commissioner for review. If the commissioner
issues an order disapproving the disclosure, the facilitator may
not use the disclosure after the order takes effect.
(c) A facilitator may not represent that the commissioner's
failure to disapprove a disclosure constitutes an approval of the
disclosure by the commissioner, the Office of the Consumer Credit
Commissioner, or the finance commission.
Sec. 350.155. ADVERTISING DISCLOSURES. (a) In this
section, "advertise" means to produce, distribute, broadcast, or
otherwise display or have displayed written or visual materials or
oral statements describing a facilitator's products and services.
(b) A facilitator may not:
(1) advertise or promote a refund anticipation loan
unless the advertisement prominently features the word "loan" or a
translation of "loan" if the advertisement is not in English;
(2) advertise or promote a refund anticipation loan
without distinguishing a refund anticipation loan from non-loan
products and from refund expediting services offered by the
Internal Revenue Service for which the Internal Revenue Service
does not charge a fee, such as direct deposit or electronic filing;
(3) state or suggest in an advertisement that direct
deposit or electronic filing delivers a refund to the taxpayer
without any waiting time or in three days or less;
(4) advertise that the time during which a tax refund
may be expected to be received from the Internal Revenue Service is
longer than the time during which a tax refund may be expected to be
received according to the Internal Revenue Service statistics
available on the Internet website of the Internal Revenue Service
or at a local Internal Revenue Service office; or
(5) advertise a refund anticipation loan without
including a statement that the taxpayer may file a tax return
electronically without obtaining a loan.
(c) For a print advertisement, any word or disclosure
required by Subsection (b) must be in type size that is one-half as
large as the largest type size in the advertisement.
Sec. 350.156. MODIFICATION OF REFUND RECEIPT ESTIMATE. The
commissioner may by rule revise the disclosures required by this
subchapter to conform to the Internal Revenue Service's published
average time for receiving a refund.
[Sections 350.157-350.200 reserved for expansion]
SUBCHAPTER E. ADDITIONAL DUTIES OF AND RESTRICTIONS ON
FACILITATORS
Sec. 350.201. DECEPTIVE PRACTICES PROHIBITED. A
facilitator or an officer, agent, employee, or other representative
of a facilitator may not:
(1) engage in unfair, deceptive, or fraudulent
practices in facilitating a refund anticipation loan or check,
including misrepresenting a factor or condition of the loan or
check or making an oral statement contradicting information
required to be disclosed under Subchapter D;
(2) misrepresent a material fact in obtaining or
attempting to obtain a registration as a facilitator;
(3) engage in conduct that violates Subchapter E,
Chapter 17, Business & Commerce Code; or
(4) threaten to take an action prohibited by this
chapter or that the person does not intend to take.
Sec. 350.202. DUTY TO ARRANGE TRANSACTION OR NOTIFY OF
REJECTION. Promptly after a consumer applies for a refund
anticipation loan or check, a facilitator or an officer, agent,
employee, or other representative of a facilitator shall arrange
for the loan or check or notify the consumer that the application is
rejected.
Sec. 350.203. COPIES OF APPLICATION AND AGREEMENT. At the
time a refund anticipation loan is closed or a refund anticipation
check transaction is completed, a facilitator or an officer, agent,
employee, or other representative of a facilitator shall give the
consumer copies, in a form that can be kept by the consumer, of:
(1) the complete loan or check application and
agreement; and
(2) the disclosures that a creditor is required to
make under the Truth in Lending Act (15 U.S.C. Section 1601 et
seq.), if the transaction is a refund anticipation loan.
Sec. 350.204. PROHIBITED PROVISIONS. (a) A facilitator or
an officer, agent, employee, or other representative of a
facilitator may not include in a document provided in connection
with a refund anticipation loan or check:
(1) a hold harmless clause;
(2) a confession of judgment clause;
(3) a waiver of the right to a jury trial in an action
brought by or against a consumer;
(4) an assignment of or order for payment of wages or
other compensation for services;
(5) a provision in which the consumer agrees not to
assert a claim or defense arising out of the contract;
(6) a waiver of any provision of this chapter,
including the right to injunctive, declaratory, or other equitable
relief or relief on a class-wide basis; or
(7) a provision requiring that any provision of a
dispute resolution between the parties to a refund anticipation
loan or check agreement be kept confidential.
(b) A waiver of any provision of this chapter is void.
(c) Subsection (a)(7) does not affect the rights of the
parties to a refund anticipation loan or check agreement to agree
that certain specified information is a trade secret or otherwise
confidential or to agree after a dispute arises to keep the dispute
resolution confidential.
Sec. 350.205. ADDITIONAL SECURITY INTEREST PROHIBITED. A
facilitator or an officer, agent, employee, or other representative
of a facilitator may not take or arrange for a creditor to take a
security interest in a consumer's property other than the proceeds
of the consumer's tax refund to secure payment of a refund
anticipation loan.
Sec. 350.206. VIOLATION OF RULES. A facilitator or an
officer, agent, employee, or other representative of a facilitator
may not violate a rule adopted by the commissioner under this
chapter.
Sec. 350.207. ANNUAL REPORTS. (a) Each year, a facilitator
shall file a report with the commissioner according to procedures
established by the commissioner.
(b) A report filed under this section must include the
following information for the period beginning May 1 of the
preceding year and ending April 30 of the year the report is filed:
(1) the total number and dollar amount of refund
anticipation loans facilitated by the facilitator;
(2) the total number and dollar amount of refund
anticipation checks facilitated by the facilitator;
(3) the creditor's best estimate of the average number
of days for which refund anticipation loans facilitated by the
facilitator were outstanding before being repaid with the
consumer's tax refund;
(4) the name and address of any creditor or other
person for whom the facilitator facilitates a refund anticipation
loan or check; and
(5) the number of loans that are not paid in full from
the consumer's tax refund.
(c) The commissioner shall establish procedures for filing
a report under this section.
(d) Each year, the commissioner shall prepare and publish a
consolidated analysis and recapitulation of reports filed under
this section.
[Sections 350.208-350.250 reserved for expansion]
SUBCHAPTER F. ENFORCEMENT
Sec. 350.251. INVESTIGATION AND HEARING. (a) If the
commissioner has reasonable cause to believe or has notice that an
action of a facilitator may violate this chapter or a rule adopted
under this chapter, the commissioner shall give the facilitator
reasonable notice of the suspected violation and an opportunity to
be heard, and may require the facilitator to furnish information
regarding a specific loan or business practice to which the
violation relates. If the facilitator fails to furnish the
information requested by the commissioner, the commissioner may
conduct an investigation to determine whether a violation exists.
(b) The commissioner or the commissioner's representative
may investigate the records, including the books, accounts, papers,
and correspondence, of any facilitator who the commissioner has
reasonable cause to believe is violating this chapter, regardless
of whether the facilitator claims that the facilitator is not
subject to this chapter.
(c) A hearing under this section shall be open to the public
and conducted in accordance with Chapter 2001, Government Code.
Sec. 350.252. ENFORCEMENT ORDERS; APPEAL OF ORDER. (a) If
the commissioner has reasonable cause to believe that a person is
violating this chapter, the commissioner may do one or more of the
following:
(1) issue an order to cease and desist from the
violation;
(2) issue an order to take affirmative action; or
(3) take any other action authorized by law.
(b) A person may appeal an order to the finance commission
or to district court in accordance with Chapter 2001, Government
Code.
(c) If a person against whom an order is made requests a
hearing, the commissioner shall set a hearing before a hearings
officer and give notice of the hearing. The hearing shall be
governed by Chapter 2001, Government Code. The commissioner by
order may determine whether a violation of this chapter has
occurred, based on the findings of fact, conclusions of law, and
recommendations of the hearings officer.
(d) If a person does not request a hearing under Subsection
(c) on or before the 30th day after the date the order is issued, the
order is considered final and enforceable. The commissioner, after
giving notice, may impose an administrative penalty against a
person who violates an order to cease and desist or an order to take
affirmative action in an amount not to exceed $1,000 for each day a
violation occurs. In addition to any other remedy provided by law,
the commissioner may bring a suit in district court for injunctive
relief and to collect an administrative penalty. A bond is not
required of the commissioner with respect to injunctive relief
granted under this section.
Sec. 350.253. REVOCATION OR SUSPENSION OF REGISTRATION.
(a) The commissioner may revoke or suspend the registration of a
registrant if the commissioner finds, after an administrative
hearing under Section 350.251, that a registrant has engaged in a
course of conduct that violates this chapter or a rule adopted under
this chapter or has continued to engage in an action in violation of
the commissioner's cease and desist order or order to take
affirmative action.
(b) The revocation, suspension, or surrender of a
facilitator's registration does not relieve a registrant from civil
or criminal liability for an action committed before the
revocation, suspension, or surrender.
Sec. 350.254. COMPLAINT PROCEDURE. (a) The commissioner
shall establish a complaint procedure that enables an aggrieved
consumer or a member of the public to file a complaint against a
registrant or non-registrant who violates a provision of this
chapter. The commissioner shall maintain a toll-free number that a
consumer may use to obtain information about registrants and
complaint forms.
(b) Except as provided by this subsection, a complaint is a
public record under Chapter 552, Government Code. A complainant's
name, address, and other personal identifying information are
confidential and may not be disclosed to the public.
Sec. 350.255. DECEPTIVE TRADE PRACTICES. A violation of
this chapter is a deceptive trade practice under Subchapter E,
Chapter 17, Business & Commerce Code.
Sec. 350.256. CIVIL ACTION. (a) A facilitator who engages
in an activity prohibited by this chapter is liable to the consumer
for:
(1) actual and consequential damages;
(2) the greater of:
(A) $2,000; or
(B) three times the amount of the refund
anticipation loan fee or other unauthorized charge; and
(3) reasonable attorney's fees and costs.
(b) Any person may sue for injunctive or other appropriate
equitable relief to enforce this chapter.
(c) A consumer may bring a class action suit to enforce this
chapter. In a class action suit brought under this subsection, a
facilitator who violates this chapter is liable for:
(1) actual and consequential damages for each class
member;
(2) damages provided by Subsection (a)(2) for each
class member; and
(3) reasonable attorney's fees and costs.
(d) The remedies provided in this section are cumulative and
are not intended to be the exclusive remedies available to a
consumer. A consumer is not required to exhaust any administrative
remedies provided by this chapter or other applicable law.
SECTION 2. A facilitator of refund anticipation loans or
checks shall file the first report with the consumer credit
commissioner as required by Section 350.207, Finance Code, as added
by this Act, not later than July 1, 2007.
SECTION 3. This Act takes effect January 1, 2006.