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TITLE 7BANKING AND SECURITIES
PART 2TEXAS DEPARTMENT OF BANKING
CHAPTER 35CHECK VERIFICATION ENTITIES
SUBCHAPTER BREGISTRATION OF CHECK VERIFICATION ENTITIES
RULE §35.11Who must register with the banking commissioner?

An entity is a check verification entity and must register with the banking commissioner if it:

  (1) is a consumer reporting agency as defined in the Fair Credit Reporting Act (15 U.S.C. Section 1681 et seq.);

   (2) contracts with businesses in this state to recommend acceptance or rejection of checks or similar sight orders received by the businesses; and

   (3) compiles and maintains files on consumers on a nationwide basis regarding the consumers' check-writing history for those businesses with which it contracts.
Source Note: The provisions of this §35.11 adopted to be effective January 3, 2008, 32 TexReg 9940

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