Section 352.004 - Disclosure Requirements(a) A facilitator to which Section 352.002 applies shall discuss with and clearly disclose to a borrower, after the borrower's tax return has been prepared and before the loan is closed:(1) the refund anticipation loan fee schedule;(2) a written statement disclosing:(A) that a refund anticipation loan is a loan and is not the borrower's actual income tax refund;(B) that the taxpayer may file an income tax return electronically without applying for a refund anticipation loan;(C) that the borrower is responsible for repayment of the loan and related fees if the tax refund is not paid or is insufficient to repay the loan;(D) any fee that will be charged if the loan is not approved;(E) the average time, as published by the Internal Revenue Service, within which a taxpayer can expect to receive a refund for an income tax return filed: (i) electronically, and the refund is: (a) deposited directly into the taxpayer's bank account; or(b) mailed to the taxpayer; and(ii) by mail, and the refund is:(a) deposited directly into the taxpayer's financial institution account; or(b) mailed to the taxpayer;(F) that the Internal Revenue Service does not guarantee:(i) payment of the full amount of the anticipated refund; or(ii) a specific date on which it will mail a refund or deposit the refund into a taxpayer's financial institution account; and(G) the estimated time within which the proceeds of the refund anticipation loan will be paid to the borrower if the loan is approved; and(3) the following information, specific to the borrower:(A) the estimated total fees for the loan; and(B) the estimated annual percentage rate for the loan, calculated using the guidelines established under the Truth in Lending Act (15 U.S.C. Section 1601 et seq.).(b) A refund anticipation loan fee schedule required by Subsection (a)(1) must be a listing or table of refund anticipation loan fees charged by the lender for refund anticipation loan amounts. The schedule shall: (1) list separately each fee imposed related to the making of a refund anticipation loan;(2) list the total amount of fees imposed related to the making of a refund anticipation loan; and(3) include, for each stated loan amount, the estimated annual percentage rate for the loan, calculated using the guidelines established under the Truth in Lending Act (15 U.S.C. Section 1601 et seq.).(c) A facilitator who advertises or markets refund anticipation loans in Spanish shall offer any borrower the option of receiving a Spanish-language printed disclosure and loan contract. A facilitator who negotiates a loan with a borrower in Spanish shall offer that borrower the option of receiving a Spanish-language printed disclosure and loan contract.Renumbered from Finance Code, Section 351.004 by Acts 2009, 81st Leg., R.S., Ch. 87, Sec. 27.001(17), eff. 9/1/2009.Amended By Acts 2009, 81st Leg., R.S., Ch. 87, Sec. 27.002(5), eff. 9/1/2009.Added by Acts 2007, 80th Leg., R.S., Ch. 135, Sec. 1, eff. 9/1/2007.