Source: http://digitalprairie.ok.gov/cdm/ref/collection/stgovpub/id/21462/
Timestamp: 2018-12-14 12:31:35
Document Index: 584891121

Matched Legal Cases: ['§ 1', '§ 131', '§ 3101', '§ 2000', '§ 2095', '§ 1501', '§ 1521', '§ 1950', '§ 508', '§ 508', '§ 6', '§ 1', '§ 131', '§ 3101', '§ 2000', '§ 2095', '§ 1501', '§ 1521', '§ 1950', '§ 508', '§ 508', '§ 6']

Home Documents.OK.Gov Consumer Credit Strategic Plan
Consumer Credit Strategic Plan
C 5100.3 S898 2010/15 c.1
4545 N. Lincoln Blvd., Ste. 164
Spencer Stanley, Chairman
Bob Moses, Vice Chairman
Odell Roland, Commissioner
Armando Rosell, Commissioner
Joey Root, Commissioner
Trisha Thompson, Commissioner
Cass Fahler, Commissioner
Joe Wilbanks, Commissioner
Mick Thompson, Commissioner, Ex-Officio
We strive to protect consumer buyers, lessees and borrowers against unfair
practices, and to be fair and impartial in the regulation of consumer credit
transactions and related activities in the state of Oklahoma.
Through public and internet education programs throughout the State of Oklahoma,
we will accomplish our goals. The addition of public information services gives us the
opportunity to constantly provide the public with consumer credit educational
information. As a result, consumers and licensees are more aware and have a better
understanding of the function and responsibility of the Department of Consumer
Credit, and we are assisting the public in improving their personal financial literacy.
We will earn the respect of the industries we regulate and the consumers we protect.
By working together, the commission, administration and staff will modernize our
laws, keeping pace with changing economic and social trends. As a result, Oklahoma
will have the lowest rates of fraud and predatory lending in the country and a healthy
availability of consumer credit at authorized rates and fair terms.
The Department was created by the Oklahoma Legislature in 1969 to administer and
enforce the Uniform Consumer Credit Code ("Code"), 14A O.S. § 1-101 et seq. The
Code and accompanying regulations govern the transaction of consumer credit sales,
consumer leases and consumer loans in the State of Oklahoma. Most requirements of
the Code concern disclosures, maximum charges that may be imposed on consumer
credit transactions and prohibited conduct by creditors. The Department is responsible
for implementing legislation and regulations regarding the Code and licenses, and
regulates non-depository financial institutions that are engaged in consumer credit
transactions in the State of Oklahoma.
Because Oklahoma law is substantially similar to the federal Truth-in-Lending Act and
accompanying Regulation Z, Oklahoma has an exemption from federal administration
and regulation of disclosure requirements regarding consumer credit transactions in the
State of Oklahoma. The exemption means that regulation of disclosure requirements
for consumer credit transactions in the State of Oklahoma is conducted by agencies of
the State of Oklahoma instead of federal regulators. For example, the Department
regulates disclosure requirements of non-depository financial institutions such as
installment loan companies and the State Banking Department regulates disclosure
requirements of consumer credit transactions for state-chartered depository institutions
such as banks, credit unions and savings associations. To maintain the exemption, the
Department is required to monitor federal legislative and regulation changes and
implement any changes in Oklahoma. The Department is also required to file an annual
report to the Board of Governors of the Federal Reserve System (the federal agency
responsible for drafting and implementing disclosure requirements involving consumer
credit transactions) regarding its exemption.
Additionally, the Department is responsible for administering and enforcing the Credit
Services Organization Act (entities and individuals that assist consumers in obtaining
credit or improving credit), 24 O.S. § 131 et seq., the Deferred Deposit Lending Act
(payday loans), 59 O.S. § 3101 et seq., the Oklahoma Health Spa Act (spas, health
clubs and gym membership contracts), 59 O.S. § 2000 et seq., the Oklahoma Secure
and Fair Enforcement for Mortgage Licensing Act (origination and modification of
residential mortgage loans), 59 O.S. § 2095 et seq., the Oklahoma Pawn Shop Act, 59
O.S. § 1501 et seq., the Precious Metal and Gem Dealer Licensing Act (purchase of
used gold, silver, platinum, diamonds, etc.), 59 O.S. § 1521 et seq., and the Oklahoma
Rental Purchase Act (the rental of consumer goods), 59 O.S. § 1950.
The Commission on Consumer Credit ("Commission") is the policy-making and
governing authority of the Department. The Commission's duties include, but are not
limited to, appointing an Administrator to manage the Department, approving
administrative regulations and Department sponsored legislation, approving the
Department's budget and approving certain contracts and expenditures by the
The Commission consists of ten (10) members. Nine (9) members are voting members
appointed by the Governor with the advice and consent of the Oklahoma State Senate.
The State Banking Commissioner is an ex-officio, non-voting member of the
Four (4) of the voting members are appointed as follows: one member engaged in the
business of making supervised loans pursuant to 14A O.S. § 508A upon
recommendation of the Oklahoma Consumer Finance Association; one member
engaged in the business of making supervised loans pursuant to 14A O.S. § 508B,
upon recommendation of the Independent Finance Institute; one member engaged in
the business of making pawn loans pursuant to the Oklahoma Pawnshop Act; upon
recommendation of the Oklahoma Pawnbrokers Association and one member
appointed by the Governor upon recommendation of the Oklahoma Association of
Mortgage Professionals. No more than two (2) of the industry representatives may be
The remaining members of the Commission are at-large members. No more than three
(3) at large members can be from the same political party. Voting members serve a
term of office of five (5) years.
Commission meetings are subject to the Oklahoma Open Meeting Act. Unless
otherwise noted, Commission meetings are held on the second Wednesday of each
month in the Department's Conference Room. Commission members elect a Chairman
and Vice-Chairman annually in January.
The Administrator is the director of the Department and is responsible for managing the
Department. The Administrator is appointed by the Commission. The Administrator's
qualifications are set by statute at 14A O.S. § 6-506. The Administrator's specific duties
include, but are not limited to, issuing final administrative orders against entities and
individuals subject to the Department's jurisdiction, preparing a manual of necessary
employee positions, subject to approval by the Commission, hiring Department
personnel and preparing the Department's budget, subject to approval by the
The Commission on Consumer Credit met, discussed the strategic plan, and made
recommendations to the Administrator. The Administrator then met with the core
management team, which includes the Deputy Administrator, General Counsel,
Director of Examinations, and the Director of Licensing. The core management team
met and established the goals set forth in this plan. Departmental employees were
solicited, and a select group met with the core management team. A consensus was
achieved as to implementation of action plans and responsible persons directed
toward achieving our desired goals.
The following are actions we will take to implement the strategic plan on an ongoing
• Appoint a strategic plan manager
• Hold personnel accountable
• Coach for achievement
• Hold effective strategy meetings on a quarterly basis
The Department's core values and behaviors exemplify the principles that guide our
operations. These values reflect the ideology of all employees and which they strive to
meet in achieving the tasks that fulfill the Department's mission.
• To empower and inspire Department employees
• To be professional in our actions to the consumers we serve, our licensees and
• To have honesty, integrity and respect for all individuals
• Full, fair, accurate, timely and understandable disclosure of the periodic reports
required to be filed by our agency
• To work every day to create and maintain a positive work environment
throughout our Department. We encourage a team environment in an effort to
unleash the power of teamwork throughout the Department to meet the needs of
• Management provides quality-focused leadership and technical excellence to
enable the Department to meet its regulatory responsibilities in a cost-effective
• The Department conducts internal and external actions with the highest degree
of honesty, fairness, transparency, and accountability, fostering confidence in us
by the public, and the industries we regulate
1. Increase our presence, awareness, and reputation with our state government,
the consumer, and those we license and regulate.
2. Improve Department productivity and quality through more efficient processes in
licensing and examinations.
3. Protecting the citizens of Oklahoma by enforcing state law, and exposing
unlicensed credit activity by forcing them to cease operation or become
Goal #1: Increase our presence, awareness, and reputation with our state
government, the consumer, and those we license and regulate.
RESPONSIBLE Timeline Timeline
ACTION PLAN MEASUREMENT PERSONS Start End
Establish DOCC Number of friends, Deputy
Facebook and followers, and website Administrator, FY2011 Ongoing
Twitter accounts hits Data Analyst, 3rd
Create and Website hits, number Administrator,
distribute quarterly of responses from Director of FY2011 Ongoing
newsletter, press press release Examinations, i" Quarter
releases Director of Licensing
Host open house Number of people in Deputy FY2011 Ongoing
meetings attendance Administrator, 1st Quarter
Attend industry
meetings, Number of events Entire Staff FY2010 Ongoing
community attended
Goal #2: Improve Department productivity and quality through more efficient
processes in licensing and examinations.
ACTION MEASUREMENT PERSONS Start End
Create a training Develop and General Counsel, FY2011 Ongoing
policy for both implement Director of 4th Quarter
licensing and Examinations, Director
examinations of Licensing
On-line Develop and Director of FY2012 Ongoing
examinations Implement Examinations, Deputy 2nd Quarter
Review, revise and
Examinations implement one General Counsel, FY2010 Ongoing
based on industry per year Director of 4th Quarter
objective criteria Examinations
Specialized Examiners to conduct Director of FY2011 Ongoing
examiners industry specific Examinations, Senior 1st Quarter
examinations at one Examiners
Goal #3: Protecting the citizens of Oklahoma by exposing unlicensed credit activity
and forcing them to cease operation or become compliant.
Assign personnel to Dedicate personnel to General Counsel, FY2011
review complaints the task Director of Examinations 1st Quarter Ongoing
and advertisinq
Schedule personnel Count results from Deputy Administrator, FY2011 Ongoing
to do spot checks in findings Director of Examinations 4th Quarter
Issue cease and Number of orders and General Counsel FY2011 Ongoing
desist orders and fines imposed 1st Quarter
Okla State Agency Consumer Credit, Oklahoma Commission on
Okla Agency Code '635'
Alternative title Strategic plan / Department of Consumer Credit
Authors Oklahoma. Department of Consumer Credit.
Publisher Oklahoma Department of Consumer Credit
Publication Date 2010; 2011; 2012; 2013; 2014; 2015
Serial holdings Electronic holdings: FY11-15
Subject Oklahoma. Department of Consumer Credit--Planning.
Credit control--Oklahoma--Planning.
Consumer credit--Government policy--Oklahoma--Planning.
Loans, Personal--Government policy--Oklahoma--Planning.
Purpose state mandated planning template; We strive to protect consumer buyers, lessees and borrowers against unfair practices, and to be fair and impartial in the regulation of consumer credit transactions and related activities in the state of Oklahoma.
Contents Based on FY11-15 issue: ODOCC Organizational Chart; Department Personnel; Mission Statement; Vision Statement; Executive Summary; Strategic Planning Process; Plan Implementation; Values and Behaviors; Strategic Plan Goals
OkDocs Class# C5100.3 S898
OCLC number 815521146
Title Consumer Credit Strategic Plan
OkDocs Class# C5100.3 S898 2010/15
Full text C 5100.3 S898 2010/15 c.1 2011 - 2015 Strategic Plan Department of Consumer Credit Title Deputy Administrator General Counsel Director of Examinations Director of Licensing Department Number 635 Address 4545 N. Lincoln Blvd., Ste. 164 Oklahoma City, OK. 73105 Administrator Scott Lesher Commission Members Spencer Stanley, Chairman Bob Moses, Vice Chairman Odell Roland, Commissioner Armando Rosell, Commissioner Joey Root, Commissioner Mark Kelly, Commissioner Trisha Thompson, Commissioner Cass Fahler, Commissioner Joe Wilbanks, Commissioner Mick Thompson, Commissioner, Ex-Officio Core Management Name Patricia Strunk Roy John Martin Dennis Mullins Vanessa Todd 2 DEPARTMENT PERSONNEl Scott Lesher Patricia Strunk Roy John Martin Rhonda Mullins Wendy Crowder Administrator Deputy Administrator General Counsel Executive Secretary Administrative Assistant Vanessa Todd Tracy Anderson Janice Hendricks Diane Brown Director of Licensing Administrative Assistant Business Manager Administrative Technician Dennis Mullins Brad Custard Karen Banks Mary Keel James Snell Director of Examinations Senior Examiner Examiner Examiner Examiner 4 Mission Statement We strive to protect consumer buyers, lessees and borrowers against unfair practices, and to be fair and impartial in the regulation of consumer credit transactions and related activities in the state of Oklahoma. Vision Statement Through public and internet education programs throughout the State of Oklahoma, we will accomplish our goals. The addition of public information services gives us the opportunity to constantly provide the public with consumer credit educational information. As a result, consumers and licensees are more aware and have a better understanding of the function and responsibility of the Department of Consumer Credit, and we are assisting the public in improving their personal financial literacy. We will earn the respect of the industries we regulate and the consumers we protect. By working together, the commission, administration and staff will modernize our laws, keeping pace with changing economic and social trends. As a result, Oklahoma will have the lowest rates of fraud and predatory lending in the country and a healthy availability of consumer credit at authorized rates and fair terms. 5 Executive Summary The Department was created by the Oklahoma Legislature in 1969 to administer and enforce the Uniform Consumer Credit Code ("Code"), 14A O.S. § 1-101 et seq. The Code and accompanying regulations govern the transaction of consumer credit sales, consumer leases and consumer loans in the State of Oklahoma. Most requirements of the Code concern disclosures, maximum charges that may be imposed on consumer credit transactions and prohibited conduct by creditors. The Department is responsible for implementing legislation and regulations regarding the Code and licenses, and regulates non-depository financial institutions that are engaged in consumer credit transactions in the State of Oklahoma. Because Oklahoma law is substantially similar to the federal Truth-in-Lending Act and accompanying Regulation Z, Oklahoma has an exemption from federal administration and regulation of disclosure requirements regarding consumer credit transactions in the State of Oklahoma. The exemption means that regulation of disclosure requirements for consumer credit transactions in the State of Oklahoma is conducted by agencies of the State of Oklahoma instead of federal regulators. For example, the Department regulates disclosure requirements of non-depository financial institutions such as installment loan companies and the State Banking Department regulates disclosure requirements of consumer credit transactions for state-chartered depository institutions such as banks, credit unions and savings associations. To maintain the exemption, the Department is required to monitor federal legislative and regulation changes and implement any changes in Oklahoma. The Department is also required to file an annual report to the Board of Governors of the Federal Reserve System (the federal agency responsible for drafting and implementing disclosure requirements involving consumer credit transactions) regarding its exemption. Additionally, the Department is responsible for administering and enforcing the Credit Services Organization Act (entities and individuals that assist consumers in obtaining credit or improving credit), 24 O.S. § 131 et seq., the Deferred Deposit Lending Act (payday loans), 59 O.S. § 3101 et seq., the Oklahoma Health Spa Act (spas, health clubs and gym membership contracts), 59 O.S. § 2000 et seq., the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act (origination and modification of residential mortgage loans), 59 O.S. § 2095 et seq., the Oklahoma Pawn Shop Act, 59 O.S. § 1501 et seq., the Precious Metal and Gem Dealer Licensing Act (purchase of used gold, silver, platinum, diamonds, etc.), 59 O.S. § 1521 et seq., and the Oklahoma Rental Purchase Act (the rental of consumer goods), 59 O.S. § 1950. The Commission on Consumer Credit ("Commission") is the policy-making and governing authority of the Department. The Commission's duties include, but are not limited to, appointing an Administrator to manage the Department, approving administrative regulations and Department sponsored legislation, approving the Department's budget and approving certain contracts and expenditures by the Department. 6 The Commission consists of ten (10) members. Nine (9) members are voting members appointed by the Governor with the advice and consent of the Oklahoma State Senate. The State Banking Commissioner is an ex-officio, non-voting member of the Commission. Four (4) of the voting members are appointed as follows: one member engaged in the business of making supervised loans pursuant to 14A O.S. § 508A upon recommendation of the Oklahoma Consumer Finance Association; one member engaged in the business of making supervised loans pursuant to 14A O.S. § 508B, upon recommendation of the Independent Finance Institute; one member engaged in the business of making pawn loans pursuant to the Oklahoma Pawnshop Act; upon recommendation of the Oklahoma Pawnbrokers Association and one member appointed by the Governor upon recommendation of the Oklahoma Association of Mortgage Professionals. No more than two (2) of the industry representatives may be from the same political party. The remaining members of the Commission are at-large members. No more than three (3) at large members can be from the same political party. Voting members serve a term of office of five (5) years. Commission meetings are subject to the Oklahoma Open Meeting Act. Unless otherwise noted, Commission meetings are held on the second Wednesday of each month in the Department's Conference Room. Commission members elect a Chairman and Vice-Chairman annually in January. The Administrator is the director of the Department and is responsible for managing the Department. The Administrator is appointed by the Commission. The Administrator's qualifications are set by statute at 14A O.S. § 6-506. The Administrator's specific duties include, but are not limited to, issuing final administrative orders against entities and individuals subject to the Department's jurisdiction, preparing a manual of necessary employee positions, subject to approval by the Commission, hiring Department personnel and preparing the Department's budget, subject to approval by the Commission. 7 STRATEGIC PLANNING PROCESS The Commission on Consumer Credit met, discussed the strategic plan, and made recommendations to the Administrator. The Administrator then met with the core management team, which includes the Deputy Administrator, General Counsel, Director of Examinations, and the Director of Licensing. The core management team met and established the goals set forth in this plan. Departmental employees were solicited, and a select group met with the core management team. A consensus was achieved as to implementation of action plans and responsible persons directed toward achieving our desired goals. PLAN IMPLEMENTATION The following are actions we will take to implement the strategic plan on an ongoing basis: • Appoint a strategic plan manager • Hold personnel accountable • Coach for achievement • Empower Managers • Hold effective strategy meetings on a quarterly basis 8 Values and Behaviors The Department's core values and behaviors exemplify the principles that guide our operations. These values reflect the ideology of all employees and which they strive to meet in achieving the tasks that fulfill the Department's mission. • To empower and inspire Department employees • To be professional in our actions to the consumers we serve, our licensees and each other • To have honesty, integrity and respect for all individuals • Full, fair, accurate, timely and understandable disclosure of the periodic reports required to be filed by our agency • To work every day to create and maintain a positive work environment throughout our Department. We encourage a team environment in an effort to unleash the power of teamwork throughout the Department to meet the needs of our consumers • Management provides quality-focused leadership and technical excellence to enable the Department to meet its regulatory responsibilities in a cost-effective and timely manner. • The Department conducts internal and external actions with the highest degree of honesty, fairness, transparency, and accountability, fostering confidence in us by the public, and the industries we regulate 9 Strategic Plan Goals 1. Increase our presence, awareness, and reputation with our state government, the consumer, and those we license and regulate. 2. Improve Department productivity and quality through more efficient processes in licensing and examinations. 3. Protecting the citizens of Oklahoma by enforcing state law, and exposing unlicensed credit activity by forcing them to cease operation or become compliant. 10 Goal #1: Increase our presence, awareness, and reputation with our state government, the consumer, and those we license and regulate. RESPONSIBLE Timeline Timeline ACTION PLAN MEASUREMENT PERSONS Start End Establish DOCC Number of friends, Deputy Facebook and followers, and website Administrator, FY2011 Ongoing Twitter accounts hits Data Analyst, 3rd Website Quarter Administrator Create and Website hits, number Administrator, distribute quarterly of responses from Director of FY2011 Ongoing newsletter, press press release Examinations, i" Quarter releases Director of Licensing Administrator, Host open house Number of people in Deputy FY2011 Ongoing meetings attendance Administrator, 1st Quarter General Counsel Attend industry meetings, Number of events Entire Staff FY2010 Ongoing community attended meetings, consumer protection meetings Goal #2: Improve Department productivity and quality through more efficient processes in licensing and examinations. RESPONSIBLE Timeline Timeline ACTION MEASUREMENT PERSONS Start End PLAN Create a training Develop and General Counsel, FY2011 Ongoing policy for both implement Director of 4th Quarter licensing and Examinations, Director examinations of Licensing On-line Develop and Director of FY2012 Ongoing examinations Implement Examinations, Deputy 2nd Quarter Administrator, Data Analvst Review, revise and Examinations implement one General Counsel, FY2010 Ongoing based on industry per year Director of 4th Quarter objective criteria Examinations Specialized Examiners to conduct Director of FY2011 Ongoing examiners industry specific Examinations, Senior 1st Quarter examinations at one Examiners time 11 Goal #3: Protecting the citizens of Oklahoma by exposing unlicensed credit activity and forcing them to cease operation or become compliant. RESPONSIBLE Timeline Timeline ACTION PLAN MEASUREMENT PERSONS Start End Assign personnel to Dedicate personnel to General Counsel, FY2011 review complaints the task Director of Examinations 1st Quarter Ongoing and advertisinq Schedule personnel Count results from Deputy Administrator, FY2011 Ongoing to do spot checks in findings Director of Examinations 4th Quarter the field Issue cease and Number of orders and General Counsel FY2011 Ongoing desist orders and fines imposed 1st Quarter impose civil penalties " 12
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