Tex. Codes » Finance Code · TITLE 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · SUBTITLE A. INTEREST · CHAPTER 305. PENALTIES AND REMEDIES
Texas Codes

Tex. Fin. Code § 305.101 (2026)

Accidental And Bona Fide Error

✓ current as of May 2026
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Sec. 305.101. ACCIDENTAL AND BONA FIDE ERROR. A creditor is not subject to penalty under this chapter for any usurious interest that results from an accidental and bona fide error.

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.

Notes of Decisions
Cited in 8 cases, 1998–2015 · leading case: Pagel v. Whatley, 82 S.W.3d 571 (Tex. App. 2002).
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Pagel v. Whatley, 82 S.W.3d 571 (Tex. App. 2002). · cites it 2× “Tex. Fin.Code Ann. § 305.101 (Vernon Supp.”
In Re Perry, 425 B.R. 323 (Bankr. S.D. Tex. 2010). · cites it 2× “3d at 244 ; Tex. Fin.Code Ann. § 305.101 (Vernon 2009).”
Pentico v. Mad-Wayler, Inc., 964 S.W.2d 708 (Tex. App. 1998). “06(a) allows creditors to establish that a miscalculation was the result of an “accidental and bona fide error” and avoid penalties for usury.”
Sotelo v. Interstate Fin. Corp., 224 S.W.3d 517 (Tex. App. 2007). “Tex. Fin. Code Ann. § 305.101 ("A creditor is not subject to penalty under this chapter for any usurious interest that results from an accidental and bona fide error.”
Shawn Ibrahim, Inc., Mahmood Aktar & Muhammad Amin v. Suncoast Env't & Constr.,Inc. Sunnyland Dev., Inc. Ajaz R. Siddiqui & Najeeb R. Siddiqui (Tex. App. 2015). “However, Ajaz testified that the amount was an accidental error that it corrected in the second demand letter after consulting a banking expert. Sunnyland sent both demand letters before 16 Ibrahim alleged a claim for usury.”
MacKie's Auto., Inc. v. Mike Parks (Tex. App. 2004). “See Tex. Fin. Code Ann. §305.101 (Vernon Supp.”
Tiazmara Sotelo v. Interstate Fin. Corp. (Tex. App. 2007). “Tex. Fin. Code Ann. § 305.101 ("A creditor is not subject to penalty under this chapter for any usurious interest that results from an accidental and bona fide error.”
Perez, Jr., Filiberto & Paula T. Perez v. Feffer, Esperanza Flores (Tex. App. 2000). “" Tex. Fin. Code Ann. § 305.101 (Vernon Supp.”
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