88R4068 MLH-D     By: Ordaz H.B. No. 1384       A BILL TO BE ENTITLED   AN ACT   relating to a restriction on total charges charged for certain   extensions of consumer credit that are facilitated by credit access   businesses and entered into by consumers residing in disaster   areas.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 393.602(b), Finance Code, is amended to   read as follows:          (b)  Subject to Section 393.629, a [A] credit access business   may assess fees for its services as agreed to between the parties.   A credit access business fee may be calculated daily, biweekly,   monthly, or on another periodic basis. A credit access business is   permitted to charge amounts allowed by other laws, as applicable. A   fee may not be charged unless it is disclosed.          SECTION 2.  Subchapter G, Chapter 393, Finance Code, is   amended by adding Section 393.629 to read as follows:          Sec. 393.629.  RESTRICTION ON CHARGES CHARGED IN CONNECTION   WITH DEFERRED PRESENTMENT TRANSACTIONS OF CONSUMERS IN DISASTER   AREAS. (a) In this section:                (1)  "Designated disaster period" means the period   beginning on the date of the proclamation or executive order of the   governor declaring the disaster and ending on the 30th day after the   date the disaster declaration expires or is terminated.                (2)  "Disaster area" means an area of this state that is   subject to a declaration of disaster by the governor under Section   418.014, Government Code.          (b)  The annual percentage rate of an extension of consumer   credit in the form of a deferred presentment transaction that is   entered into by a consumer residing in a disaster area and that a   credit access business obtains for the consumer or assists the   consumer in obtaining may not exceed 30 percent during the   designated disaster period.          (c)  For purposes of this section, the annual percentage rate   of an extension of consumer credit in the form of a deferred   presentment transaction is calculated including the total charges   charged to the consumer in connection with the extension of   consumer credit, including interest, lender charges, and any fees   or any other valuable consideration received by the credit access   business or a representative of the credit access business.          SECTION 3.  Section 393.629, Finance Code, as added by this   Act, applies only to an extension of consumer credit made on or   after the effective date of this Act. An extension of consumer   credit made before the effective date of this Act is governed by the   law in effect on the date the extension of consumer credit was made,   and the former law is continued in effect for that purpose.          SECTION 4.  This Act takes effect September 1, 2023.