Scored 7/10 on whether it helps or hurts everyday people.
The Consumer Safeguards Bill
Texas bill adds consumer safeguards for credit access businesses
Relating to credit services organizations and extensions of consumer credit facilitated by credit services organizations; increasing a criminal penalty.
Good for everyday people ·
If passed, the bill would force credit help companies to give clear disclosures, ban unfair penalties, and limit criminal threats, protecting everyday borrowers.
Our take
What we think, in plain words.
Consumers could avoid hidden fees and scary legal threats when getting a loan, while companies may face higher compliance costs; now is the time to speak up before it passes.
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The facts
What the bill actually says, no spin.
- Defines "credit access business" and related credit terms.
- Requires contracts to state there is no prepayment penalty.
- Mandates compliance with the federal Fair Debt Collection Practices Act.
- Prohibits threatening criminal charges unless fraud or theft is proven.
- Requires compliance with 10 U.S.C. 987 regulations.
- Adds disclosure requirements for consumers about credit terms.
- Lets stricter local ordinances apply if they conflict with state rules.
- Increases criminal penalties for violations (details not specified).
In the news
Scanning the news for this bill…
Headlines gathered from across the news, starting points to explore, not endorsements. Always read the official text before acting.
Sources
Read it yourself: the official bill and records.
This bill is in the Texas Bill Book 2026
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