The Office of Consumer Credit Commissioner(OCCC) maintains regulatory oversight over segments of the consumer-lending marketplace in Texas. Most non-depository lenders, non-real estate lenders and segments of the home equity industry are supervised by the OCCC. Exempt lenders (authorized lenders that are exempt from OCCC licensing, e.g., banks) and exempt transactions (e.g., loans at rates lower than 10%) contribute to the remaining marketplace. Several types of credit products are available and range from those frequently used by Texas consumers to niche offerings. This report highlights five of the most common loans that Texas consumers received from OCCC licensed lenders and lists general lower-cost alternatives to those products.
|Report on Availability, Quality, and Pricing of Certain Financial Services and Consumer Loan Products|