Texas Justices Won't Rehear Case On Home Equity Loan Rules

Law360, New York (January 31, 2014, 6:45 PM EST) -- The Texas Supreme Court refused on Friday to rehear a case in which the court previously ruled the state's Finance Commission and Credit Union Commission went too far when modifying loan fee caps and allowing loan closings through an agent.

In June 2013, the state high court determined that although Texas' Finance and Credit Union commissions had the power to interpret state law on home equity rules, their interpretations had gone too far. Specifically, the court said the agencies' interpretations ultimately allowed the state Legislature to...
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