Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2008 by Cosper (Relating to deferred presentment transactions made to military borrowers.), As Introduced
The provisions of the bill addressed by this analysis would amend the Finance Code as it relates to deferred presentment transactions made to military borrowers. Under the provisions of the bill, a lender who engages in a deferred presentment transaction with a member of the United States military or a dependent of a member of the United States military must comply with certain federal laws pertaining to consumer creditors.
This analysis assumes the provisions of the bill would not result in a significant impact on the demand for state correctional resources.