28 Tex. Admin. Code § 25.74 - Full Disclosure Requirements in Advertising
(a) If rates or charges are stated in
advertising, they shall be expressed in terms of an "annual percentage rate"
(simple annual interest rate). Any advertisement that states the amount of any
installment payment, the dollar amount of any finance charge or the number of
installments or the period of repayment shall also state:
(1) the amount of the loan expressed as
"amount financed";
(2) the number,
amount, and due dates or periods of payments scheduled to repay the
indebtedness if credit is extended;
(3) the rate of the finance charge;
and
(4) the sum of the payments
expressed as "total of payments."
(b) The foregoing information shall be
clearly shown in such a manner as not to be deceiving or misleading.
(c) If any licensee advertises that the first
installment on a loan may be extended beyond one month from the loan date, he
shall also clearly state whether a charge is to be made for such
extension.
(d) The advertisement
shall state that a licensed insurance agent can take application from the
insured for insurance premium financing.
(e) The advertisement shall specifically
state that the advertisement pertains to insurance premium finance
only.
Notes
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