Extension Of Credit To Victim Of Identity Theft – Tex. Bus. & Com. Code § 523.001
Have you been a victim of Identity Theft? Had your credit card company closed and refused to re-open your account as a result? Well, if you live in Texas the Texas Business and Commerce Code Section 523.001 may be just what you need to reference to get your bank to co-operate and do the right thing. As we know banks rarely do anything that’s not in their best interest even when they are obligated to legally.
Current through the 87th Legislature (2021) Third Special Session
Section 523.001 – Extension Of Credit To Victim Of Identity Theft
(a) In this section, “victim of identity theft” means an individual who has filed a criminal complaint alleging the commission of an offense under Section 32.51, Penal Code, other than a person who is convicted of an offense under Section 37.08, Penal Code, with respect to that complaint.
(b) A person who has been notified that an individual has been the victim of identity theft may not deny the individual an extension of credit, including a loan, in the individual’s name or restrict or limit the credit extended solely because the individual has been a victim of identity theft. This subsection does not prohibit a person from denying an individual an extension of credit for a reason other than the individual’s having been a victim of identity theft, including by reason of the individual’s lack of capacity to contract.
(c) A license issued under Subtitle B, Title 4, Finance Code, that is held by a person who violates this section is subject to revocation or suspension under that subtitle.
Tex. Bus. and Comm. Code § 523.001Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 2.01, eff. April 1, 2009.