§ 20-30. Maintenance of records.

(a)

A credit access business shall maintain a complete set of records of all extensions of consumer credit arranged or obtained by the credit access business, which must include the following information:

(1)

The name and address of the consumer;

(2)

The principal amount of cash actually advanced;

(3)

The length of the extension of consumer credit, including the number of installments and renewals;

(4)

The fees charged by the credit access business to arrange or obtain an extension of consumer credit; and

(5)

The documentation used to establish a consumer's income under section 20-31 of this article.

(b)

A credit access business shall maintain a copy of each written agreement between the credit access business and a consumer evidencing an extension of a consumer credit (including, but not limited to, any refinancing or renewal granted to the consumer).

(c)

A credit access business shall maintain copies of all quarterly reports filed with the Texas Consumer Credit Commissioner under V.T.C.A., Finance Code § 393.627.

(d)

The records required to be maintained by a credit access business under this section must be retained for at least three years and made available for inspection by the city upon request during the usual and customary business hours of the credit access business.

(Ord. No. 12,550, § 2, 5-22-14)