Tex.
Fin. Code Section 342.602
Disclosures to Military Borrowers
(1)
the lender is prohibited by law from:(A)
garnishing the wages of any borrower, including a borrower who is a member of the United States military;(B)
conducting any collection activity against a borrower who is:(i)
a member of the armed forces of the United States who is deployed to combat or a combat support posting, for the duration of the posting;(ii)
a member of the Texas National Guard who is called to federal active duty, for the duration of the duty;(iii)
the spouse of a person described by Paragraph (i), for the duration of the posting; or(iv)
the spouse of a person described by Paragraph (ii), for the duration of the duty; or(C)
from contacting the employer of a member of the United States military about a deferred presentment debt of the member or the member’s spouse;(2)
the lender shall honor the terms of a repayment agreement entered into with a member of the United States military or the member’s spouse, including a repayment agreement negotiated through military counselors or third-party credit counselors; and(3)
the lender shall honor any statement made by a commanding officer of a member of the United States military declaring any location where deferred presentment transaction business is to be conducted by the lender to be a place at which a member of the United States military or the member’s spouse is prohibited from transacting business.
Source:
Section 342.602 — Disclosures to Military Borrowers, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.342.htm#342.602 (accessed Jun. 5, 2024).
