1. (a) The Office of Consumer Credit Commissioner shall administer, implement, and enforce this chapter.

2. (b) Except as provided by Subsection (d), the Office of Consumer Credit Commissioner may:

   1. (1) bring enforcement actions for:

      1. (A) violations of rules adopted under Subsection (c);
      2. (B) failures to make disclosures required by Section 398.051; or
      3. (C) failures to register as required by Section 398.053;
   2. (2) terminate or suspend registrations; and
   3. (3) assess civil penalties.

3. (c) The Finance Commission of Texas shall adopt rules applicable to providers and commercial sales-based financing brokers that identify unlawful, unfair, deceptive, or abusive acts or practices related to a transaction subject to this chapter. Rules adopted under this subsection must identify and prohibit specific acts or practices by providers or brokers that:

   1. (1) the commission considers unfair because:

      1. (A) the act or practice causes or is likely to cause substantial injury to a recipient that the recipient cannot reasonably avoid; and
      2. (B) the injury outweighs the benefits to recipients or to market competition;
   2. (2) are material acts or practices that will or likely will mislead a recipient who, given the circumstances, has a reasonable interpretation of the act or practice;
   3. (3) materially interfere with a recipient's ability to understand a term or condition of a commercial sales-based financing transaction; or

   4. (4) take unreasonable advantage of:

      1. (A) a recipient's lack of understanding of the material risks, costs, or conditions of the commercial sales-based financing transaction; or
      2. (B) a recipient's inability to protect the recipient's interest in selecting or using a commercial sales-based financing product.
4. (d) The Finance Commission of Texas may not adopt a maximum annual percentage rate, finance charge, or fee for commercial sales-based financing transactions.

Added by Acts 2025, 89th Leg., R.S., Ch. 723 (H.B. 700), Sec. 1, eff. September 1, 2025.