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MEMORANDUM ROUTE TO: Real Estate, Lending, Banking and Finance Attorneys Lending Compliance Officers and Auditors Lending, Finance and Leasing Officers and Staff Note Department USURY AND TEXAS CREDIT
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Usury is the illegal action or practice of lending money at unreasonably high rates of interest. Texas Credit is a detailed report that provides information on the credit history and financial behavior of an individual or business in the state of Texas.
Lenders and financial institutions are required to file reports on usury and Texas credit.
To fill out usury and Texas credit reports, lenders need to provide detailed information on the loan terms and credit history of the borrower.
The purpose of usury and Texas credit reports is to ensure transparency and accountability in lending practices, as well as to protect borrowers from unfair lending practices.
Information such as loan amount, interest rate, payment terms, and credit history of the borrower must be reported on usury and Texas credit.
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