| (a) A credit access business must use the required
disclosures under Texas Finance Code, §393.223 as prescribed
by Figures: 7 TAC §83.6007(a) - (d) of this title (relating to
Consumer Disclosures), but may consider making only limited technical
changes, as provided by the following exclusive list:
(1) Filling in any dollar amounts, interest rates,
or other terms specific to the three to five most common loans for
each of the products offered by the credit access business;
(2) Substituting the pronouns used to denote the consumer
by substituting words such as "you" and "your" for "I" and "my," along
with appropriate grammatical changes;
(3) Adding an optional, dated signature block at the
very bottom of the disclosure form, which must include the following
statement directly above the signature line of the consumer: "ACKNOWLEDGMENT
OF RECEIPT: By signing below, I acknowledge only that I have received
a copy of this disclosure prior to signing any contract for a payday
or auto title loan, this ___ day of _____, 20__."
(4) Combining the Texas Finance Code, §393.223
disclosure with the federal disclosure regarding military borrowers
under 10 U.S.C. §987 and 32 C.F.R. Part 232;
(5) Combining the Texas Finance Code, §393.223
disclosure with the federal disclosure requirements for advertising
under the Truth in Lending Act, 15 U.S.C. §1632(a), and Regulation
Z, 12 C.F.R. §1026.24;
(6) a form number indicating the version of the form,
the date the form was produced, or both.
(b) A credit access business may make changes other
than those specified in subsection (a) only if the OCCC has approved
the changes in writing.
(c) The permissible changes allowed by this section
must not result in decreasing a font size by more than one point or
a chart size by more than 10% from the required disclosure. Permissible
changes cannot otherwise interfere with the presentation or layout
of the disclosed information.
(d) The comparison information regarding alternative
forms of debt required by Texas Finance Code, §393.223(a)(1)
and the information regarding the typical pattern of repayment required
by Texas Finance Code, §393.223(a)(3) will be periodically updated
by the OCCC. Updated consumer disclosures required by §83.6007
of this title will be posted on the OCCC website.
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