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Loans Texas

Troutman Pepper Locke

Texas Enacts New Commercial Sales-Based Financing Bill Severely Restricting Automatic Debits

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On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant...more

Orrick, Herrington & Sutcliffe LLP

Texas Supreme Court answers Fifth Circuit’s question on loans in ruling

On May 23, the Supreme Court of Texas ruled that the maximum permissible interest on a loan must be calculated using the declining principal balance rather than the initial total principal amount. This decision was in...more

Katten Muchin Rosenman LLP

Maximum Interest Must Be Calculated Using the Actuarial Method Resulting in Lower Interest Charges as Principal Balance Declines

Commercial lenders in Texas should be made aware of the Texas Supreme Court’s new decision in American Pearl Group, LLC v. National Payment Systems, LLC, No. 24-0758. In that case, the Court clarified the “actuarial method”...more

Troutman Pepper Locke

Texas Introduces Legislation to Regulate Sales-Based Commercial Financing

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Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction...more

McGlinchey Stafford

Texas Mortgage Loan Rule Changes

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The Texas Department of Savings and Mortgage Lending has proposed a wide-ranging overhaul of its rules concerning residential mortgage loan originators (RMLOs), loan companies, mortgage bankers, and servicers. Some of the...more

Vinson & Elkins LLP

Texas Energy Fund Update

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On November 7, 2023, Texas voters approved a constitutional amendment creating the Texas Energy Fund (“TEF”). The TEF, which will be administered by the Public Utility Commission of Texas (“PUCT”) with assistance from a...more

Vinson & Elkins LLP

The Texas Energy Fund Becomes Law. Now What?

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On Tuesday, November 7, 2023, Texas voters approved Proposition 7, a constitutional amendment creating the Texas Energy Fund (“TEF”). The TEF will provide electric infrastructure grant and loan programs established by Senate...more

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