Bill Text: TX HB376 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to use of a credit score by a business or lender.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2011-02-16 - Referred to Pensions, Investments & Financial Services [HB376 Detail]
Download: Texas-2011-HB376-Introduced.html
| 82R2013 KFF-D | ||
| By: Alonzo | H.B. No. 376 | |
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| relating to use of a credit score by a business or lender. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle A, Title 5, Business & Commerce Code, is | ||
| amended by adding Chapter 73 to read as follows: | ||
| CHAPTER 73. USE OF CREDIT SCORE | ||
| Sec. 73.001. DEFINITION. In this chapter, "credit score" | ||
| means a number or rating derived from an algorithm, computer | ||
| application, model, or other process that is based on credit | ||
| information and used to predict a consumer's creditworthiness or | ||
| credit capacity. | ||
| Sec. 73.002. DISCRIMINATION PROHIBITED. (a) A business | ||
| may not discriminate against a customer in the price or rate that | ||
| the business charges for a good or service based on the customer's | ||
| credit score. | ||
| (b) A person who makes an extension of credit to a borrower | ||
| may not discriminate against the borrower in the amount or rate of | ||
| interest charged based on the borrower's credit score. | ||
| (c) A violation of this section is a deceptive trade | ||
| practice in addition to the practices described by Subchapter E, | ||
| Chapter 17, and is actionable under that subchapter. | ||
| SECTION 2. This Act takes effect September 1, 2011. | ||
