Rates, Fees & State Disclosures
Texas Office of Consumer Credit Commissioner (OCCC) Fee Disclosures and Truth in Lending Act (TILA) Schedules.
Understanding Texas CAB Fee Components
When obtaining a loan arranged by Banksov in Texas, your total finance charge consists of two distinct components:
- Credit Access Business (CAB) / Credit Services Organization (CSO) Fee: Charged by Banksov Financial Services LLC for arranging and guaranteeing the loan under Texas Finance Code Chapter 393.
- Third-Party Lender Interest: Charged by the unaffiliated direct lender on the principal loan amount (capped by Texas law at applicable statutory interest limits, typically ~10% annual rate).
Representative OCCC Fee & Repayment Schedule
Below are representative examples of single-installment short-term loan terms for common principal amounts:
| Loan Principal | Term | CAB Service Fee | Lender Interest | Total Finance Charge | Total Repayment | Representative APR |
|---|---|---|---|---|---|---|
| $300.00 | 14 Days | $60.00 | $1.15 | $61.15 | $361.15 | 531.45% |
| $500.00 | 14 Days | $100.00 | $1.92 | $101.92 | $601.92 | 531.44% |
| $800.00 | 14 Days | $160.00 | $3.07 | $163.07 | $963.07 | 531.44% |
| $1,000.00 | 14 Days | $200.00 | $3.84 | $203.84 | $1,203.84 | 531.44% |
Required TILA Federal Disclosure Notice
The Annual Percentage Rate (APR) is calculated according to the federal Truth in Lending Act (TILA). APR reflects the annualized cost of credit over a 365-day year. Because short-term loans are repaid in short durations (e.g., 14 days), the annualized APR appears as a high percentage figure. Short-term loans are intended for short-term financial relief only.
Official OCCC Consumer Cost Disclosures
The Office of Consumer Credit Commissioner (OCCC) produces official fee disclosure charts comparing short-term credit options in Texas. You may view and download official state forms: