Well, we can see the displacement, but we can not read the words so, go to the layers panel. Select the texture layer. Put the cursor between the texture layer and the text layer. While you're doing this hold down ALT. You see the cursor is different now. It's like two circles and a little arrow, right? just click.
You've just created a Clipping Mask. There's another way to do this. You can go to Layer / Create Clipping Mask. You will see that now the texture layer has a little arrow before the thumbnail.