Overview & Key Responsibilities
Since Texas’ existence as an independent republic, some form of consumer credit regulation has existed in the state. Since its creation in 1963, the Office of Consumer Credit Commissioner (OCCC) has seen the depth and breadth of its regulatory oversight increase to encompass the expanding financial marketplace in Texas, and each segment, with its own unique and specific benefits and compliance concerns. The agency works to ensure that the non depository financial services industry that it regulates provides compliant financial products. Participants within this dynamic and diverse industry range from small, independent providers, to international publicly-traded corporations engaging in an extensive array of financial transactions.
The agency works to ensure that this vast financial marketplace adheres to laws regulating financial transactions, as well as to educate both financial service providers and consumers about rights, responsibilities, and remedies associated with such transactions. The agency’s regulatory authority is found in the Texas Finance Code §14.001 et seq.
The agency’s operating budget is approved by the Finance Commission, and all operating funds are received directly from regulated industries; revenues are used to fund direct and indirect costs. The agency matches revenues with expenditures to ensure that regulated entities are not charged more than is required to maintain operations and meet statutory mandates.
The OCCC promotes the highest principles of professional conduct, ethics, and sensitivity to cultural diversity issues. The agency aims for high quality standards to:
Regulate fairly, efficiently, and effectively, addressing both consumers and creditors by enforcing Texas credit laws and licensing qualified lenders;
Educate consumers and credit providers about their rights, remedies, and responsibilities;
Communicate collaboratively with and encourage communication among the credit industry, consumer public, and the agency;
Protect and safeguard consumers against abusive and deceptive lending practices.
Compact with Texans
The Compact with Texans sets forth the customer service standards and describes customer service principles for the agency as well as licensing and registration procedures and contact information.
Our Governing Board
The Finance Commission of Texas is the agency's eleven member governing board that is appointed by the Governor. It is responsible for overseeing and coordinating the Office of the Consumer Credit Commissioner, the Department of Savings and Mortgage Lending, and the Texas Department of Banking. The Finance Commission is the policy making body for these agencies and is not a separate state agency.
OCCC Association Memberships
The OCCC maintains memberships in two trade groups that promote a better understanding of the industries we regulate and provide a forum for information exchange among regulatory agencies.
- National Association of Consumer Credit Administrators (NACCA)
- American Association of Residential Mortgage Regulators (AARMR)
Among other activities, NACCA develops training programs to promote consistent regulation across state lines, and coordinates the efforts of individual states toward determination of sound public policy.
AARMR works to develop model legislation, increase the knowledge and ability of mortgage regulators, and enhance jurisdictional consistency relating to mortgage lending, servicing, and brokering.