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OCCC Regulations

The Office of Consumer Credit Commissioner

The Office of Consumer Credit Commissioner (OCCC) licenses and regulates non-depository lenders in the state of Texas, including Property Tax Lenders. The goal of the OCCC is to create a fair, lawful, and healthy credit environment that grows economic prosperity for all Texans. As new forms of credit become available to Texas consumers, the OCCC helps the public understand their rights and responsibilities.

OUR ACCOMPLISHMENTS

OCCC Limits Use of Discount Points

In 2015, the OCCC, with the support of the TPTLA, severely limits the use of discount points in property tax loan transactions.

OCCC Basics

The agency's job is to ensure that its non-depository lenders "provide compliant financial products", and keep many businesses doors open simple via regulation.

REGULATORY HISTORY

1963

The Office of Consumer Credit Commissioner (OCCC) was created to understand, oversee, and maintain the Texas financial marketplace.

1997

The OCCC was given regulatory authority by the Texas Finance Code §14.001 et seq. This gave the OCCC the opportunity to "serve at the will of the commission" and also to be subjected to "orders of the commission".

2013

On May 31st, the OCCC issued an Advisory Bulletin regarding the new requirements imposed by SB 247. The new law affects judicial foreclosure, advertising, secondary markets, and payoff statements.

2015

The Finance Commission of Texas adopts OCCC-recommended rules regarding limited use of discount points by property tax lenders. The TPTLA and its membership firmly support the rules which provide guidelines for charging legitimate discount points in connection with property tax loans. 

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