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Legal Issues
The reasoning in the Home Equity Commentary has been used by several courts in deciding home equity cases.  Texas Statutes and Rules These are descriptions and definitions of the listed items.  Plain Language Project These are descriptions and definitions of the listed items.
˜Advance Notice of Proposed Rulemaking (ANPR)   ˜The Plain Language Initiative  
˜Texas Credit Laws  

˜Proposed Model Contracts

  
˜Required Disclosures  

Adopted Model Contracts

  
˜Regulated Loan Rules   ˜˜Filing Deadlines  
˜Pawnshop Rules ˜Contract Submittal Form (PDF)  
˜Motor Vehicle Sales Finance Rules      
   
˜Consumer Debt Management Services Rules  
 OCCC Policy and Stance These are descriptions and definitions of the listed items.  Legal Department Activities These are descriptions and definitions of the listed items.
˜Interpretation Letters   ˜Open Records Requests  
˜Home Equity Law Interpretation   ˜Hearing Process  
˜Policy Advisory Relating to the Effective Date of SB 1112   ˜Internship in Legal Department  
Motor Vehicle Advisory Bulletins      
         

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Texas Statutes and Rules

Proposed Rules
Administrative rules are added, updated, and repealed at Finance Commission of Texas (FC) meeting.

Texas Credit Laws
This document is a compilation of all the statutes and rules this agency enforces, as published in the December 2003Texas Credit Laws book.

Regulated Loan Statutes and Rules
For lenders and transactions subject to Chapter 342

Pawnshop Statutes and Rules
For pawnshop owners and transactions (Chapter 371)

Motor Vehicle Financing Statutes and Rules
For lenders and transactions subject to Chapter 348

OCCC Policy and Stance

Home Equity Commentary
This document expresses the enforcement positions for home equity loans adopted by the Office of Consumer Credit Commissioner, Department of Banking, Savings and Loan Department, and the Credit Union Department.

Interpretation Letters
An interpretation letter is a document issued by the Consumer Credit Commissioner that provides an interpretation of an area or activity the OCCC regulates. (Read a recent example of an interpretation letter.) The interpretation is based on the specific situation described in the request letter.

Plain Language Project

The Plain Language Initiative
The plain language project arose from the Sunset Commission’s 2000 recommendation that the OCCC require its regulated loan licensees to provide consumer loan contracts written in plain language. The 77th Legislature made that recommendation law in Senate Bill 317. The OCCC is developing plain language model contracts in Spanish and English for all of the lenders it licenses by working with a drafting committee of attorneys who represent both consumers and lenders.

Proposed and Adopted Model Contracts
When a model contract is complete, the OCCC presents it at the next Finance Commission meeting and then allows at least 30 days for public comment on the proposed model and accompanying rules. Adoption will typically take place at the subsequent Finance Commission meeting.

Filing Deadlines
Licensees need to either use the contract models prepared for the loans they arrange or submit their own version of plain language contracts to the Consumer Credit Commissioner for review. Submission of these non-standard contracts is not required until the model contract provisions have been adopted by rule.

Legal Department Activities

Open Records Requests
The Texas Public Information Act (chapter 552 of the Texas Government Code) requires all state agencies to release certain public information in response to requests from members of the public. This section should answer most questions about the agency's policies and processes for answering open record requests.

Hearing Process
This document sets forth the rules and processes for administrative hearings conducted by the OCCC in its mission to ensure that licensees are in compliance with the Texas Finance Code.

Legal Department Internship
Legal Dept. interns get bankable experience at the OCCC: The Law Clerk Internship allows the interns to work on projects designed to produce a writing sample which the Intern may find valuable in seeking future employment. Interns are also allowed to assist counsel in preparing for trials that occur during the term of the internship, including preparing witnesses and attending trial.

 

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