Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB975 by Giddings (Relating to the threat or pursuit of criminal charges against a consumer in association with certain extensions of consumer credit.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Finance Code to prohibit a credit services organization from filing a criminal complaint against a consumer or threaten to refer a consumer for prosecution unless it has extrinsic evidence sufficient to prove the offense.
The Office of the Attorney General and the Office of Consumer Credit Commissioner anticipates any additional work resulting from the passage of the bill could be reasonably absorbed within current resources.
The bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
302 Office of the Attorney General, 466 Office of Consumer Credit Commissioner