Gavvy: Fin. Code, Sec. 303.104. Disclosure of Decrease in Interest Rate Not Required On Open-end Accounts Involving Credit Card Transaction Or Merchant Discount.

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Sec. 303.104. Disclosure of Decrease in Interest Rate Not Required On Open-end Accounts Involving Credit Card Transaction Or Merchant Discount.

Sec. 303.104. DISCLOSURE OF DECREASE IN INTEREST RATE NOT REQUIRED ON OPEN-END ACCOUNTS INVOLVING CREDIT CARD TRANSACTION OR MERCHANT DISCOUNT. On an open-end account authorized under Section 342.455 or 346.003, in connection with which credit card transactions are authorized or a merchant discount is imposed or received by the creditor and on which interest is charged under this chapter, the creditor is not required to disclose a decrease in the applicable interest rate.

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.

Gavvy last updated this database on: Sep 6, 2024