Sec. 303.014. RATE FOR LENDER CREDIT CARD AGREEMENT WITH MERCHANT DISCOUNT. On an amount owed for a credit card transaction under a lender credit card agreement that imposes or allows the creditor to receive a merchant discount, the creditor may not contract for, charge, or receive:
(1) a rate that exceeds the ceiling provided under Section 303.006(c); or
(2) a fee or charge that:
(A) is not allowed under Chapter 346; or
(B) exceeds the amount allowed under Chapter 346.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.
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