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.

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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.

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