Texas Finance Code

§ 14.252 — AMOUNT OF PENALTY

FI § 14.252Title 2. FINANCIAL REGULATORY AGENCIES · Ch. 14. CONSUMER CREDIT COMMISSIONER · Art. F. ADMINISTRATIVE PENALTY; RESTITUTION ORDER; ASSURANCE OF VOLUNTARY COMPLIANCE

Statute text

View on source

(a)The commissioner may assess an administrative penalty for a violation in an amount not to exceed $1,000 for each day of the violation.

(b)The aggregate amount of penalties under this subchapter that the commissioner may assess against a person during one calendar year may not exceed the lesser of:

(1)$100,000; or

(2)an amount that is equal to the greater of five percent of the net worth of the creditor or $5,000.

(c)In determining the amount of an administrative penalty, the commissioner shall consider:

(1)the seriousness of the violation, including the nature, circumstances, extent, and gravity of the prohibited act;

…

Legislative history

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.03, eff. September 1, 2005.