Texas § FI.346.103 - FEES

§ FI.346.103. FEES

FEES. (a) The following fees may be charged to or collected from a customer in connection with an account under this chapter: (1) an annual fee not to exceed: (A) $50 a year on an account with a credit limit of $5,000 or less; (B) $75 a year on an account with a credit limit exceeding $5,000 but not exceeding $25,000; and (C) $125 a year on an account with a credit limit exceeding $25,000; (2) a late charge not to exceed the lesser of $15 or five percent of the payment due after the payment continues unpaid for 10 days or more after the date the payment is due, including Sundays and holidays; (3) a cash advance charge not to exceed the greater of $2 or two percent of the cash advance; (4) a returned check fee as provided for a loan agreement under Chapter 342 by Section 3.506 , Business & Commerce Code; and (5) a fee for exceeding a credit limit not to exceed the greater of $15 or five percent of the amount by which the credit limit is exceeded. (b) A creditor may not charge, contract for, or receive interest on fees authorized under this section. (c) A customer's monthly statement must contain the following notice printed or typed in at least 10-point type that is boldfaced, capitalized, underlined, or otherwise conspicuously set out from the surrounding written material: "A LATE CHARGE OF FIVE PERCENT OF THE PAYMENT DUE OR A MAXIMUM OF $15 WILL BE ASSESSED FOR A PAYMENT MADE 10 DAYS OR MORE AFTER THE DATE PAYMENT OF THIS BILL IS DUE." (d) With respect to a revolving credit account secured by an interest in real property, a creditor may contract for, charge, and receive additional fees or charges permitted under Section 342.308 as if the revolving credit account were a secondary mortgage loan under Chapter 342 . Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 1348, Sec. 2, eff. Sept. 1, 1999; Acts 2003, 78th Leg., ch. 887, Sec. 3, eff. Sept. 1, 2003. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453 ), Sec. 9, eff. September 1, 2011. SUBCHAPTER C. CREDITOR'S DUTIES AND AUTHORITY