Tex. Fin. Code Section 393.304
False or Misleading Representation or Statement

A credit services organization or a representative of the organization may not:

(1)

make or use a false or misleading representation in the offer or sale of the services of the organization, including:

(A)

guaranteeing to “erase bad credit” or words to that effect unless the representation clearly discloses this can be done only if the credit history is inaccurate or obsolete; and

(B)

guaranteeing an extension of consumer credit regardless of the person’s credit history unless the representation clearly discloses the eligibility requirements for obtaining the extension; or

(2)

make, or advise a consumer to make, a statement relating to a consumer’s credit worthiness, credit standing, or credit capacity that the person knows, or should know by the exercise of reasonable care, to be false or misleading to a:

(A)

consumer reporting agency; or

(B)

person who has extended consumer credit to a consumer or to whom a consumer is applying for an extension of consumer credit.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 393.304 — False or Misleading Representation or Statement, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­393.­htm#393.­304 (accessed Jun. 5, 2024).

393.001
Definitions 393.002
Persons Not Covered 393.003
Waiver Void 393.101
Registration Statement 393.102
Update of Registration Statement 393.103
Inspection of Registration Statement 393.104
Filing Fee 393.105
Disclosure Statement 393.106
Copy of Disclosure Statement 393.201
Form and Terms of Contract 393.202
Notice of Cancellation 393.203
Issuance of Contract and Other Documents 393.204
Breach of Contract 393.221
Definitions 393.222
Posting of Fee Schedule 393.223
Consumer Transaction Information 393.224
Administrative Penalty 393.301
Representative 393.302
Charge or Receipt of Consideration Before Completion of Services 393.303
Charge or Receipt of Consideration for Referral 393.304
False or Misleading Representation or Statement 393.305
Fraudulent or Deceptive Conduct 393.306
Advertising Services Without Filing Registration Statement 393.307
Causing Waiver Prohibited 393.401
Surety Bond 393.402
Surety Account 393.403
Amount of Surety Bond or Account 393.404
Beneficiary of Surety Bond or Account 393.405
Claim Against Surety Bond or Account 393.406
Term of Surety Bond or Account 393.407
Payment of Money in Surety Account to Credit Services Organization 393.501
Criminal Penalty 393.502
Injunctive Relief 393.503
Damages 393.504
Deceptive Trade Practice 393.505
Statute of Limitations 393.601
Definitions 393.602
Applicability 393.603
License Required 393.604
Application for License 393.605
Bond 393.606
Investigation of Application 393.607
Approval or Denial of Application 393.608
Disposition of Fees on Denial of Application 393.609
Name and Place of License 393.610
License Display 393.611
Minimum Assets for License 393.612
License Fee 393.613
Expiration of License on Failure to Pay Fee 393.614
License Suspension or Revocation 393.615
License Suspension or Revocation Filed with Public Records 393.616
Reinstatement of Suspended License 393.617
Surrender of License 393.618
Effect of License Suspension, Revocation, or Surrender 393.619
Moving an Office 393.620
Transfer or Assignment of License 393.621
Administration 393.622
Rules 393.623
Providing or Advertising Services Without License Prohibited 393.624
Restrictions on Off-site Advertising 393.625
Military Borrowers 393.626
Debt Collection Practices 393.627
Quarterly Report to Commissioner 393.6085
License Term 393.6115
Grounds for Refusal to Renew
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 393.304’s source at texas​.gov