2021 Texas Statutes
Finance Code
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle A - Interest
Chapter 308 - Consumer Credit Protections
Section 308.002. False, Misleading, or Deceptive Advertising
Sec. 308.002. FALSE, MISLEADING, OR DECEPTIVE ADVERTISING. (a) A creditor may not, in any manner, advertise or cause to be advertised a false, misleading, or deceptive statement or representation relating to a rate, term, or condition of a credit transaction or advertise credit terms that the person does not intend to offer to consumers who qualify for those terms.
(b) This section does not create a private right of action.
(c) In interpreting this section, an administrative agency or a court shall be guided by the applicable advertising provisions of:
(1) Part C of 15 U.S.C. Chapter 41, Subchapter I (15 U.S.C. Section 1601 et seq.);
(2) 12 C.F.R. Part 226 adopted by the Board of Governors of the Federal Reserve System; and
(3) the Official Staff Commentary and other interpretations of that statute and regulation by the Board of Governors of the Federal Reserve System and its staff.
(d) If a requirement of this section and a requirement of a federal law, including a regulation or an interpretation of federal law, are inconsistent or in conflict, federal law controls and the inconsistent or conflicting requirements of this chapter do not apply.
(e) A creditor who complies with the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) and Federal Reserve Regulation Z (12 C.F.R. Part 226) in advertising a credit transaction is considered to have fully complied with this section.
Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 1.01, eff. September 1, 2005.
