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Amend CSSB 1247 in SECTION 11 of the bill, following added Section 393.625(b), Finance Code (Senate committee printing, page 6, between lines 3 and 4), by inserting the following:
(c) The finance commission shall adopt a disclosure relating to the provisions of state and federal law applicable to a military borrower who obtains an extension of consumer credit from or with the assistance of a credit access business. A credit access business shall provide this disclosure to military borrowers for whom the credit access business seeks to obtain an extension of consumer credit.
(d) Notwithstanding Section 14.252, the commissioner may assess an administrative penalty in an amount not to exceed $5,000 for each violation, against a credit access business that violates this section, regardless of whether the violation is knowing or willful.
WEST
DAVIS
LUCIO
VAN DE PUTTE
WATSON