reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.853 - Misleading Advertising

Current through Reg. 49, No. 28; July 12, 2024
(a) A licensee
					 may not advertise that loans will be made at any other place other than that
					 named on its license, except for Texas Finance Code, Chapter 342, Subchapter G
					 loans, which may be closed at a title company or an attorney's office. Every
					 advertisement must state or clearly indicate the identity of the licensee, and
					 in such a manner as to prevent confusion with the name of any other unrelated
					 licensee.
(b) A licensee may not
					 use blind loan advertisements that give only telephone numbers or
					 addresses.
(c) In determining
					 whether any particular advertising matter violates Texas Finance Code, §
											RSA
					 341.403, the general arrangement of copy and
					 statements or representations made will be considered to determine if the
					 inference or impression may reasonably be drawn that the statements or
					 representations are inaccurate, deceptive, or misleading.
(d) It will be considered misleading:
(1) to use phrases such as "lowest costs,"
					 "lowest rates," "quickest service," "easy payments," or "repayment in easy
					 installments";
(2) to advertise
					 "new reduced rates" or "a new type of service" or any similar comparative
					 expression, unless the statement is in fact accurate with respect to the
					 business of the licensee advertised and unless the advertisement clearly
					 indicates that the new plan refers specifically to a change in the particular
					 licensee's plan of operation, and which change must be of more than minor
					 importance with respect to the business of the licensee. Any such advertisement
					 must not be used for a period longer than 60 days after the plan has been put
					 into effect;
(3) to make any
					 statement or representation with reference to the ease of procuring a loan, the
					 speed with which it may be effected, the freedom from credit inquiries
					 addressed to particular sources of information, or to any other implied
					 differentiation in policy or loan service, unless the licensee will comply with
					 the representation made;
(4) to
					 advertise offers to borrowers on loans in general or on particular classes or
					 types of loans during a certain limited time, unless in general practice, the
					 licensee actually makes a reasonable number of the loans within the limited
					 time and upon the basis of the offer; or
(5) for any licensee other than a lawfully
					 chartered banking institution to use the word "bank," or any derivative, in any
					 advertisement wherein its use might mislead the public to believe that the
					 licensee is an authorized banking institution or is conducting a banking
					 business.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.854 - Conditional Offers of Credit

Current through Reg. 49, No. 28; July 12, 2024
(a) A
					 licensee may not solicit business by means of a "pre-approved," "approved," or
					 any similar expression unless the statement or offer is unconditional. The term
					 "unconditional" means not limited in any way.
(b) Subsection (a) of this section does not
					 apply to a firm offer of credit, as that term is defined in
					 RSA
					 1681a, that a creditor extends to a consumer
					 following the procedures prescribed in
					 RSA
					 1681b and §
											RSA
					 1681m.
(c) A licensee may not require the purchase
					 of any goods, services, or intangibles from any person or firm as a condition
					 to the granting or extending of credit, except as specifically authorized by
					 the Texas Credit Title. This prohibition is not applicable to insurance premium
					 financing or similar transactions wherein the loan is made solely for the
					 purpose of financing the purchase. This section must not be construed so as to
					 prohibit the conduct of another business by a licensee as is authorized by
					 Texas Finance Code, §
											RSA
					 342.560.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.855 - Advertisements in Form of Negotiable Instruments

Current through Reg. 49, No. 28; July 12, 2024
A licensee may not advertise, display, or distribute
						mailing pieces that have a similarity or resemblance to a blank counter check;
						postal or express money order; U.S. currency, cash, exchange certificate, or
						any negotiable instrument whatsoever; or any federal, state, or local
						government warrant. A licensee may not use an envelope that in any way
						indicates or implies that it is from federal, state, or local
						government.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.856 - Use of State Agency Name

Current through Reg. 49, No. 28; July 12, 2024
It will be permissible for a licensee of the OCCC to
						publicly display or advertise the following or a substantially similar
						statement: "This office is licensed and examined by the Office of Consumer
						Credit Commissioner of the State of Texas."
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.857 - Full Disclosure Requirements - Other than Open-End or Revolving Loan Plans

Current through Reg. 49, No. 28; July 12, 2024
(a) If rates or
					 charges are stated in advertising, they must be expressed in terms of an
					 "annual percentage rate" (simple annual interest rate). Any advertisement that
					 states the amount of any installment payment, the dollar amount of any finance
					 charge, or the number of installments or the period of repayment, must also
					 state:
(1) the amount of the loan expressed
					 as "amount financed" (cash advance);
(2) the number, amount, and due dates or
					 periods of payments scheduled to repay the indebtedness if the credit is
					 extended;
(3) the rate of the
					 finance charge; and
(4) the sum of
					 the payments expressed as "total of payments" (amount of loan).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.858 - Full Disclosure Requirements - Open-End and Revolving Loan Plans

Current through Reg. 49, No. 28; July 12, 2024
(a) Any
					 advertisement of an open-end or revolving loan plan that states any of the
					 specific terms of that plan, must also clearly and conspicuously state the
					 following items:
(1) the time period, if any,
					 within which any credit extended may be repaid without incurring a finance
					 charge;
(2) the method of
					 determining the balance upon which a finance charge will be imposed;
(3) the method of determining the amount of
					 the finance charge;
(4) the method
					 by which any charge for insurance, if any, is to be calculated; and
(5) when periodic rates may be used to
					 compute the finance charge, with the periodic rates expressed as annual
					 percentage rates.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.859 - Collection Practices

Current through Reg. 49, No. 28; July 12, 2024
(a) In
					 attempting to collect money due on a loan or to take possession of any property
					 securing a loan, a licensee or the licensee's agent must not use any means
					 other than appeals to reason or lawful remedies authorized under the laws of
					 this state. The licensee is also bound by the remedies prescribed in any
					 instrument securing the loan.
(b) A
					 licensee or the licensee's agent must not use any physical force or violence
					 against any person or use any physical force or violence against any
					 property.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.861 - Simulated Legal Process or Documents Prohibited

Current through Reg. 49, No. 28; July 12, 2024
In attempting to collect money due on a loan or to take
						possession of any property securing a loan, a licensee or the licensee's agent
						must not use any simulated legal process, simulated legal document, or legal
						form designed to suggest that legal proceedings have been commenced or
						completed when in fact they have not.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter A - RULES FOR REGULATED LENDERS › Division 11 - PROHIBITIONS ON AUTHORIZED LENDERS › Section 83.862 - Impersonation and Fictitious Names Prohibited

Current through Reg. 49, No. 28; July 12, 2024
In attempting to collect money due on a loan, to take
						possession of any property securing a loan, or to secure information concerning
						a loan, a licensee or the licensee's agent may not impersonate or attempt to
						impersonate any law enforcement officer or other agent of federal, state, or
						local governments, and a licensee or a licensee's agent may not use any
						fictitious name unless the name used is an established or recognized trade name
						of the licensee.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 1 - GENERAL PROVISIONS › Section 83.1001 - Purpose and Scope

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose. The
					 purpose of this subchapter is to provide for the regulation of credit access
					 businesses as authorized by Texas Finance Code, Chapter 393.
(b) Scope. This subchapter governs credit
					 access businesses as defined by Texas Finance Code, §
											RSA
					 393.601(2) that obtain for a
					 consumer or assist a consumer in obtaining an extension of consumer credit in
					 the form of:
(1) a deferred presentment
					 transaction; or
(2) a motor vehicle
					 title loan.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 1 - GENERAL PROVISIONS › Section 83.1002 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
Words and terms used in this chapter that are defined in
						Texas Finance Code, Chapter 393 have the same meanings as defined in Chapter
						393. The following words and terms, when used in this subchapter , will have
						the following meanings, unless the context clearly indicates otherwise.
(1) Commissioner--The Consumer Credit
					 Commissioner of the State of Texas.
(2) Interpretation letter--A formal
					 interpretation of Texas Finance Code, Title 4 made by the commissioner and
					 approved by the Finance Commission under Texas Finance Code, §
											RSA
					 14.108.
(3) Licensee--Any person who has been issued
					 a credit access business license pursuant to Texas Finance Code, Chapter
					 393.
(4) Multiple payment auto
					 title loan--An auto title loan that is not a single payment auto title
					 loan.
(5) Multiple payment payday
					 loan--A payday loan that is not a single payment payday loan.
(6) OCCC--The Office of Consumer Credit
					 Commissioner of the State of Texas.
(7) Single payment auto title loan--An auto
					 title loan for which the entire principal balance, interest, and all fees
					 required under the terms of the transaction, including any fees required to be
					 paid to a credit access business, are due in a single payment.
(8) Single payment payday loan--A payday loan
					 for which the entire principal balance, interest, and all fees required under
					 the terms of the transaction, including any fees required to be paid to a
					 credit access business, are due in a single payment.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 2 - AUTHORIZED ACTIVITIES › Section 83.2001 - Responsibility for Acts of Agents

Current through Reg. 49, No. 28; July 12, 2024
A licensee is responsible for the acts and omissions of
						its officers, directors, employees, and agents in the conduct of the licensee's
						business.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 2 - AUTHORIZED ACTIVITIES › Section 83.2002 - Knowledge of Laws and Regulations Required

Current through Reg. 49, No. 28; July 12, 2024
Each officer, director, employee, and agent of a licensee
						engaged in or responsible for licensed activity must have a working knowledge
						of Texas Finance Code, Chapter 393, its implementing regulations, and other
						pertinent state and federal statutes and regulations that apply to the
						licensee's business.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 2 - AUTHORIZED ACTIVITIES › Section 83.2003 - Attempted Evasion of Applicability of Subchapter

Current through Reg. 49, No. 28; July 12, 2024
A "device, subterfuge, or pretense to evade the
						application of this subchapter," as used in Texas Finance Code, §
											RSA
						393.602(c), includes:
(1) a transaction that is not identified as a
					 deferred presentment transaction or payday loan, if the transaction is a
					 deferred presentment transaction; and
(2) a transaction that is not identified as a
					 motor vehicle title loan, if the transaction is a motor vehicle title
					 loan.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3004 - Change in Form or Proportionate Ownership

Current through Reg. 49, No. 28; July 12, 2024
(a) Organizational form. When any licensee or
					 parent of a licensee changes the organizational form of its business (e.g.,
					 from corporation to limited partnership), the licensee must advise the
					 commissioner of the change in writing within 10 calendar days after the change,
					 by filing a license amendment and paying the required fees as provided in
					 §
											RSA 83.3010 of this title
					 (relating to Fees). In addition, the licensee must submit a copy of the
					 relevant portions of the organizational document for the new entity (e.g.,
					 articles of conversion and partnership agreement) addressing the ownership and
					 management of the new entity.
(b)
					 Merger.
(1) If a licensee is a party to a
					 merger that results in a new or different surviving entity other than the
					 licensee, then the merger is a transfer of ownership, and the licensee must
					 file a license transfer application or a new license application on transfer of
					 ownership pursuant to §
												RSA
					 83.3003 of this title (relating to Transfer
					 of License; New License Application on Transfer of Ownership).
(2) If a licensee's parent entity is a party
					 to a merger that leads to the creation of a new entity or results in a
					 different surviving parent entity, the licensee must advise the commissioner of
					 the change in writing within 10 calendar days after the change, by filing a
					 license amendment and paying the required fees as provided in §
												RSA 83.3010 of this title.
					 Mergers or transfers of other entities with a beneficial interest beyond the
					 parent entity level only require notification within 10 calendar days in
					 accordance with the OCCC's instructions.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3005 - Amendments to Pending Application

Current through Reg. 49, No. 28; July 12, 2024
Upon request, each applicant must provide information
						supplemental to that contained in the applicant's original application
						documents.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3006 - Updating Application and Contact Information

Current through Reg. 49, No. 28; July 12, 2024
(a) Applicant's updates to license
					 application information. Before a license application is approved, an applicant
					 must report to the OCCC any information that would require a materially
					 different answer than that given in the original license application and that
					 relates to the qualifications for license within 10 calendar days after the
					 person has knowledge of the information.
(b) Licensee's updates to license application
					 information. A licensee must report to the OCCC any information that would
					 require a different answer than that given in the original license application
					 within 30 calendar days after the licensee has knowledge of the information, if
					 the information relates to any of the following:
(1) the names of principal parties;
(2) the names of third-party lender
					 organizations;
(3) criminal
					 history;
(4) actions by regulatory
					 agencies; or
(5) court
					 judgments.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3007 - Processing of Application

Current through Reg. 49, No. 28; July 12, 2024
(a) Initial review.
					 A response to an incomplete application will ordinarily be made within 14
					 calendar days of receipt stating that the application is incomplete and
					 specifying the information required for acceptance.
(b) Complete application. An application is
					 complete when:
(1) it conforms to the rules
					 and published instructions;
(2) all
					 fees have been paid; and
(3) all
					 requests for additional information have been satisfied.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3008 - Relocation of Licensed Offices

Current through Reg. 49, No. 28; July 12, 2024
(a)
					 Filing requirements. A licensee may move the licensed office from the licensed
					 location to any other location by paying the appropriate fees and giving notice
					 of intended relocation to the commissioner not less than 30 calendar days prior
					 to the anticipated moving date. Notification must be provided by filing a
					 license amendment or an approved electronic submission as prescribed by the
					 commissioner. The notice must include the contemplated new address of the
					 licensed office, the approximate date of relocation, a copy of the notice to
					 consumers, and the applicable fee as outlined in §
											RSA 83.3010 of this title
					 (relating to Fees).
(b) Notice to
					 consumers. Written notice of a relocation of an office, or of transactions as
					 outlined in subsection (c) of this section, must be mailed to all consumers
					 with active accounts at least five calendar days prior to the date of
					 relocation. Notices must identify the licensee, provide both old and new
					 addresses, provide both old and new telephone numbers, and state the date
					 relocation is effective. The notice to consumers can be waived or modified by
					 the commissioner when it is in the public interest. A request for waiver or
					 modification must be submitted in writing for approval. In lieu of notification
					 by mail, a licensee may provide notice to a consumer by reasonable signage,
					 electronic mail, text messaging, or other electronic means if a consumer has
					 approved electronic notices, or by any other means the commissioner may
					 approve.
(c) Relocation of
					 transactions. If the licensee is only relocating or transferring transactions
					 from one licensed location to another licensed location, the licensee must
					 comply with subsection (b) of this section and provide, if transferred to more
					 than one location, a list of transactions relocated or transferred. This list
					 of relocated or transferred transactions must include the contract number and
					 the full name of the consumer.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3009 - License Inactivation or Voluntary Surrender

Current through Reg. 49, No. 28; July 12, 2024
(a) Inactivation of active license. A
					 licensee may cease operating under a credit access business license and choose
					 to inactivate the license. A license may be inactivated by giving notice of the
					 cessation of operations not less than 30 calendar days prior to the anticipated
					 inactivation date. Notification must be provided by filing a license amendment
					 or an approved electronic submission as prescribed by the OCCC. The notice must
					 include the new mailing address for the license, the effective date of the
					 inactivation, and the fee for amending the license. A licensee must continue to
					 pay the yearly renewal fees for an inactive license as outlined in §
											RSA 83.3010 of this title
					 (relating to Fees), or the license will expire as described by §
											RSA
					 83.4002 of this title (relating to License
					 Term and Annual Renewal).
(b)
					 Activation of inactive license. A licensee may activate an inactive license by
					 giving notice of the intended activation not less than 30 calendar days prior
					 to the anticipated activation date. Notification must be provided by filing a
					 license amendment or an approved electronic submission as prescribed by the
					 OCCC. The notice must include the contemplated new address of the licensed
					 office, the approximate date of activation, and the fee for amending the
					 license as outlined in §
											RSA 83.3010 of this
					 title.
(c) Voluntary surrender of
					 license. Subject to §
											RSA
					 83.4005(b) of this title
					 (relating to Effect of Revocation, Suspension, or Surrender of License), a
					 licensee may voluntarily surrender a license by providing written notice of the
					 cessation of operations, a request to surrender the license, and by submitting
					 the license certificate. A voluntary surrender will result in cancellation of
					 the license.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3010 - Fees

Current through Reg. 49, No. 28; July 12, 2024
(a) New licenses.
(1) Investigation fees. A $200 non-refundable
					 investigation fee is assessed on the filing of one or more license applications
					 owned or controlled by the same person. A separate investigation fee may be
					 imposed for multiple license applications for good cause in accordance with
					 Texas Finance Code, §
												RSA
					 393.604(b).
(2) Assessment fees. An assessment fee of
					 $600 per active license and $250 per inactive license is assessed each time an
					 application for a new license is filed. This assessment fee will be refunded if
					 the application is not approved.
(3) Fee for Texas Financial Education
					 Endowment. A fee not to exceed $200 is assessed each time an application for a
					 new license is filed, in order to contribute to the Texas Financial Education
					 Endowment. The finance commission may reduce the amount of the fee if it
					 determines that the endowment is of a sufficient size to accomplish its
					 purpose. This fee will be refunded if the application is not
					 approved.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 3 - APPLICATION PROCEDURES › Section 83.3011 - Applications and Notices as Public Records

Current through Reg. 49, No. 28; July 12, 2024
Once a license application or notice is filed with the
						OCCC, it becomes a "state record" under Texas Government Code, §
											RSA
						441.180(11), and "public
						information" under Government Code, §
											RSA
						552.002. Under Government Code, §
											RSA
						441.190, §
											RSA
						441.191 and §
											RSA
						552.004, the original applications and
						notices must be preserved as "state records" and "public information" unless
						destroyed with the approval of the director and librarian of the State Archives
						and Library Commission under Government Code, §
											RSA
						441.187. Under Government Code, §
											RSA
						441.191, the OCCC may not return any original
						documents associated with a credit access business license application or
						notice to the applicant or licensee. An individual may request copies of a
						state record under the authority of the Texas Public Information Act,
						Government Code, Chapter 552.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 4 - LICENSE › Section 83.4001 - License Display

Current through Reg. 49, No. 28; July 12, 2024
(a) In-person
					 sales. Licenses must be prominently displayed in a licensee's office in a
					 conspicuous location visible to the general public.
(b) Internet sales. For business conducted
					 through the Internet, a credit access business must fulfill one of the
					 following two options on any website maintained by the business and on any
					 website where the business advertises to or transacts with the public:
(1) include a complete copy of its license in
					 a prominent and conspicuous location which may be accessible via a direct link;
					 or
(2) include the following
					 information in a prominent and conspicuous location:
(A) name of the licensed business followed by
					 the phrase "credit access business";
(B) license number of the business;
(C) address of the licensed location of the
					 business; and
(D) a statement that
					 the licensed business is regulated by the Office of Consumer Credit
					 Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 4 - LICENSE › Section 83.4002 - License Term, Renewal, and Expiration

Current through Reg. 49, No. 28; July 12, 2024
(a) License term and renewal. A new license
					 is effective from the date of its issuance until December 31. A license must be
					 renewed annually to remain effective. After renewal, a license is effective for
					 a term of one year, from January 1 to December 31.
(b) Due date for annual assessment fee. The
					 annual assessment fee is due by December 1 of each year.
(c) Notice of delinquency. If a licensee does
					 not pay the annual assessment fee, the OCCC will send a notice of delinquency.
					 Notice of delinquency is given when the OCCC sends the notice:
(1) by mail to the address on file with the
					 OCCC as a master file address; or
(2) by e-mail to the address on file with the
					 OCCC as a master file e-mail address, if the licensee has provided a master
					 file e-mail address.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 4 - LICENSE › Section 83.4003 - Denial, Suspension, or Revocation Based on Criminal History

Current through Reg. 49, No. 28; July 12, 2024
(a)
					 Criminal history record information. After an applicant submits a complete
					 license application, including all required fingerprints, and pays the fees
					 required by §
											RSA 83.3010 of this title
					 (relating to Fees), the OCCC will investigate the applicant and its principal
					 parties. The OCCC will obtain criminal history record information from the
					 Texas Department of Public Safety and the Federal Bureau of Investigation based
					 on the applicant's fingerprint submission. The OCCC will continue to receive
					 information on new criminal activity reported after the fingerprints have been
					 initially processed.
(b) Disclosure
					 of criminal history. The applicant must disclose all criminal history
					 information required to file a complete application with the OCCC. Failure to
					 provide any information required as part of the application or requested by the
					 OCCC reflects negatively on the belief that the business will be operated
					 lawfully and fairly. The OCCC may request additional criminal history
					 information from the applicant, including the following:
(1) information about arrests, charges,
					 indictments, and convictions of the applicant and its principal
					 parties;
(2) reliable documents or
					 testimony necessary to make a determination under subsection (c) of this
					 section, including letters of recommendation from prosecution, law enforcement,
					 and correctional authorities;
(3)
					 proof that the applicant has maintained a record of steady employment, has
					 supported the applicant's dependents, and has otherwise maintained a record of
					 good conduct; and
(4) proof that
					 all outstanding court costs, supervision fees, fines, and restitution as may
					 have been ordered have been paid or are current.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 4 - LICENSE › Section 83.4005 - Effect of Revocation, Suspension, or Surrender of License

Current through Reg. 49, No. 28; July 12, 2024
(a) Effect on
					 existing contracts. Revocation, suspension, or surrender of a license does not
					 affect a preexisting contract between a consumer and a credit access business,
					 between a consumer and a lender, or a contract among all three parties.
					 Alternatively, a credit access business whose license is revoked or suspended
					 may transfer or sell its accounts to a licensed credit access
					 business.
(b) Surrendering to avoid
					 administrative action. A licensee may not surrender a license after an
					 administrative action has been initiated without the written agreement of the
					 OCCC.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 4 - LICENSE › Section 83.4006 - Application Process After Surrender or Revocation

Current through Reg. 49, No. 28; July 12, 2024
To obtain a license after surrender or revocation, the
						former licensee is required to file an application for a new license pursuant
						to the procedures set forth in §
											RSA
						83.3002 of this title (relating to Filing of
						New Application).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 5 - OPERATIONAL REQUIREMENTS › Section 83.5001 - Data Reporting Requirements

Current through Reg. 49, No. 28; July 12, 2024
(a) Generally. Each licensee must file the
					 required reports described by this section for the prior period's credit access
					 business activity in a form prescribed by the commissioner and must comply with
					 all instructions relating to submitting the reports. During each calendar year,
					 licensees are required to submit four quarterly reports as provided by Texas
					 Finance Code, §
											RSA 393.627.
					 Additionally, certain quarterly data will be collected by the OCCC on an annual
					 basis under Texas Finance Code, §
											RSA
					 393.622(a)(1). For purposes
					 of this section, the term "annual report" refers to the quarterly data
					 submitted on an annual basis. Each quarterly or annual report must be completed
					 in accordance with the OCCC's instructions. All information provided on each
					 quarterly or annual report must be accurate and calculated in accordance with
					 the OCCC's instructions.
(b) Due
					 dates.
(1) Quarterly reports. The quarterly
					 reports are due on:
(A) April 30, for
					 transactions conducted during January through March;
(B) July 31, for transactions conducted
					 during April through June;
(C)
					 October 31, for transactions conducted during July through September;
					 and
(D) January 31, for
					 transactions conducted during October through December.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 5 - OPERATIONAL REQUIREMENTS › Section 83.5002 - Follow-Up Examination Fees

Current through Reg. 49, No. 28; July 12, 2024
If a follow-up examination visit is required within nine
						months after a written deficiency report has been given as a result of a
						failure to comply with Texas Finance Code, Chapter 393, this subchapter, or the
						special instruction section of the examination report, an examination fee at
						the hourly rate of $100 per examiner may be assessed.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 5 - OPERATIONAL REQUIREMENTS › Section 83.5003 - Examinations

Current through Reg. 49, No. 28; July 12, 2024
(a) Examination
					 authority. The OCCC may periodically examine each place of business of a
					 licensee and inspect the licensee's transactions and records, including books,
					 accounts, papers, and correspondence, to the extent the transactions and
					 records pertain to business regulated under Texas Finance Code, Chapter
					 393.
(b) Access to records. A
					 licensee must allow the OCCC to examine the licensee's place of business and
					 make a copy of an item that may be inspected under subsection (a) of this
					 section.
(c) Third-party lender
					 agreements. The OCCC's examination authority includes the authority to review
					 all agreements between a licensee and any third-party lender with which the
					 licensee contracts to provide services under Texas Finance Code, Chapter
					 393.
(d) Witness declarations . In
					 connection with an examination, the OCCC may obtain witness declarations that
					 pertain to business regulated under Texas Finance Code, Chapter 393. A witness
					 declaration must substantially comply with Texas Civil Practice and Remedies
					 Code, Chapter 132.
(e) Records
					 declarations . In connection with an examination, the OCCC may obtain
					 declarations regarding records maintained by the licensee that pertain to
					 business regulated under Texas Finance Code, Chapter 393. A records declaration
					 must substantially comply with Texas Civil Practice and Remedies Code, Chapter
					 132 , and must include acknowledgments of the following:
(1) a statement that the witness is the
					 custodian of records at the licensee;
(2) a statement that the witness is familiar
					 with the manner in which records are created and maintained by virtue of duties
					 and responsibilities;
(3) the
					 number of pages of attached records;
(4) a statement that the records are original
					 records or exact duplicates of the original records;
(5) a statement that the records were made at
					 or near the time of each act, event, condition, opinion, or diagnosis set
					 forth;
(6) a statement the records
					 were made by, or from information transmitted by, persons with knowledge of the
					 matters set forth;
(7) a statement
					 that the records were kept in the course of regularly conducted business
					 activity; and
(8) a statement that
					 it is the regular practice of the business activity to make the
					 records.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 5 - OPERATIONAL REQUIREMENTS › Section 83.5005 - Separation Between Credit Access Business and Third-Party Lender

Current through Reg. 49, No. 28; July 12, 2024
(a) Generally. A
					 licensee assists consumers in obtaining extensions of credit by others, as
					 provided by Texas Finance Code, §
											RSA
					 393.001(3).
(b) Independent operation. A licensee must
					 operate independently from any third-party lender that makes a loan in
					 connection with a transaction under Texas Finance Code, Chapter 393.
					 Independent operation includes the following requirements:
(1) A licensee must be a separate legal
					 entity from any third-party lender that makes a loan in connection with a
					 transaction under Texas Finance Code, Chapter 393.
(2) The individuals who make major
					 operational decisions for a licensee must be different from the individuals who
					 make major operational decisions for any third-party lender.
(3) A licensee may not perform the functions
					 of a third-party lender, except by written agreement in accordance with this
					 section.
(4) A licensee may not
					 delegate functions to a third-party lender, except by written agreement in
					 accordance with this section.
(5) A
					 licensee may not select the underwriting criteria used in determining whether
					 the lender will make a loan to the consumer, but a licensee may apply
					 underwriting criteria selected by the third-party lender.
(6) A licensee may not lend money to a
					 consumer in connection with a transaction under Texas Finance Code, Chapter
					 393. In particular, a licensee may not borrow money from another person and
					 then lend that money to a consumer.
(7) A licensee may not act as a general agent
					 of a third-party lender, but may act as a special limited agent under a written
					 agreement with a third-party lender in accordance with this section.
(8) A licensee may not directly or indirectly
					 share fees for credit access business services with a third-party lender. If a
					 third-party lender receives any portion of a fee for credit access business
					 services charged by a licensee, it must be promptly remitted to the
					 licensee.
(9) A licensee must
					 document each transfer of money between itself and a third-party lender, in a
					 manner sufficient to show each amount that was remitted in connection with each
					 transfer. A licensee must maintain sufficient and complete records to show the
					 exact amounts that were earned by the licensee and the third-party lender in
					 connection with a deferred presentment transaction or motor vehicle title
					 loan.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 6 - CONSUMER DISCLOSURES AND NOTICES › Section 83.6001 - Purpose

Current through Reg. 49, No. 28; July 12, 2024
The purpose of the rules contained in this division is to
						provide disclosures and notices for credit access business transactions under
						Texas Finance Code, Chapter 393. These rules prescribe the form and content of
						the disclosures under Texas Finance Code, §
											RSA
						393.222 and §
											RSA
						393.223.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 6 - CONSUMER DISCLOSURES AND NOTICES › Section 83.6002 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
Words and terms used in this division that are defined in
						Texas Finance Code, Chapter 393 have the same meanings as defined in Chapter
						393. The following words and terms, when used in this division, will have the
						following meanings, unless the context clearly indicates otherwise.
(1) Credit access business--has the meaning
					 assigned by Texas Finance Code, §
											RSA
					 393.221(1). Credit access
					 businesses ("CABs") are organized as credit services organizations ("CSOs")
					 under Chapter 393. After providing the full terminology followed by the
					 acronym, a credit access business may refer to itself using the following
					 acronyms: "CAB" or "CSO."
(2)
					 Deferred presentment transaction--has the meaning assigned by Texas Finance
					 Code, §
											RSA
					 393.221(2). Another name for
					 a "deferred presentment transaction" is a "payday loan," and these terms may be
					 used synonymously.
(3) Motor
					 vehicle title loan--has the meaning assigned by Texas Finance Code, §
											RSA
					 393.221(3). Another name for
					 a "motor vehicle title loan" is an "auto title loan," and these terms may be
					 used synonymously.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 6 - CONSUMER DISCLOSURES AND NOTICES › Section 83.6003 - Posting of Fee Schedule and Notices

Current through Reg. 49, No. 28; July 12, 2024
(a) In-person sales. A credit access business
					 must prominently display the following in the licensee's office in a
					 conspicuous location visible to the general public:
(1) a schedule of all fees to be charged for
					 services performed by the credit access business in connection with deferred
					 presentment transactions and motor vehicle title loans, as
					 applicable;
(2) the following OCCC
					 notice: "This business is licensed and examined under Texas law by the Office
					 of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or
					 question cannot be resolved by contacting the business, consumers can contact
					 the OCCC to file a complaint or ask a general credit-related question. OCCC
					 address: 2601 N. Lamar Blvd., Austin, Texas 78705. Phone: (800) 538-1579. Fax:
					 (512) 936-7610. Website: occc.texas.gov. Email:
					 consumer.complaints@occc.texas.gov."; and
(3) the notice required by Texas Finance
					 Code, §
												RSA
					 393.222(a)(3).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 6 - CONSUMER DISCLOSURES AND NOTICES › Section 83.6004 - Fee Schedule Content

Current through Reg. 49, No. 28; July 12, 2024
(a) Required
					 information. For three to five examples of the most common loans transacted by
					 a credit access business, the business must post the following under Texas
					 Finance Code, §
											RSA
					 393.222(a)(1):
(1) standard fee rate;
(2) annual percentage rate (APR);
(3) any additional fees charged at the
					 inception of the loan;
(4) standard
					 loan term; and
(5) any late fees or
					 nonsufficient funds fees, if charged.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 6 - CONSUMER DISCLOSURES AND NOTICES › Section 83.6005 - Relationship with Federal Law

Current through Reg. 49, No. 28; July 12, 2024
In the event of an inconsistency or conflict between the
						disclosure or notice requirements in these provisions and any current or future
						federal law, regulation, or interpretation, the requirements of the federal
						law, regulation, or interpretation will control to the extent of the
						inconsistency.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES › Subchapter B - RULES FOR CREDIT ACCESS BUSINESSES › Division 6 - CONSUMER DISCLOSURES AND NOTICES › Section 83.6006 - Format

Current through Reg. 49, No. 28; July 12, 2024
(a) Disclosures for
					 credit access business transactions must be printed in an easily readable font
					 and type size. If other state or federal law requires a certain type size for a
					 specific disclosure or notice, the type size specified by the other law should
					 be used.
(b) The text of the
					 document must be set in an easily readable typeface. Typefaces considered to be
					 readable include: Arial, Calibri, Caslon, Century Schoolbook, Garamond,
					 Helvetica, Scala, and Times New Roman.
(c) The consumer disclosure for each product
					 offered under Texas Finance Code, Chapter 393 must be provided to consumers as
					 a separate document. Each product disclosure must fit on one standard-size
					 sheet of paper (8 1/2 by 11 inches), printed on one side.