(A) A credit access business shall maintain a complete set of records of all extensions of consumer credit arranged or obtained by the credit access business, which must include the following information:
(1) The name and address of the consumer;
(2) The principal amount of cash actually advanced;
(3) The length of the extension of consumer credit, including the number of installments and renewals;
(4) The fees charged by the credit access business to arrange or obtain an extension of consumer credit; and
(5) The documentation used to establish a consumer's income under § 124.09.
(B) A credit access business shall maintain a copy of each written agreement between the credit access business and a consumer evidencing an extension of a consumer credit (including, but not limited to, any refinancing or renewal granted to the consumer).
(C) A credit access business shall maintain copies of all quarterly reports filed with the Texas Consumer Credit Commissioner under Tex. Finance Code § 393.627.
(D) The records required to be maintained by a credit access business under this section must be retained for at least three years. If requested by the Director, the credit access business must submit a Quarterly Report to the Director providing records maintained under this section.
(Ord. 2016-09, passed 4-26-16)