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Houston Consumer Credit Lawyers – Credit Regulations

Credit is fundamental to a free market economy. Moreover, it affects numerous areas of consumer law, corporate law and real estate law. From home equity loans and first mortgages to credit cards and auto financing, credit comes in many different forms.

The commercial and corporate activities of lenders that do business in Texas are governed by a host of business laws and credit laws. Ordinary consumers and small business owners are often unaware of their rights under these laws. As such, it is all too common for lenders to run afoul of credit regulations without facing any consequences. The best defense against this is sound consumer education – and forceful legal representation.

Credit Regulation and Consumer Protection in Texas

In the state of Texas, credit regulation falls under the purview of the Texas Office of Consumer Credit Commissioner, also known as the OCCC. The OCCC is responsible for regulating a wide range of organizations that may issue credit, including:

  • Precious metals dealers
  • Credit access businesses, including nontraditional lenders
  • Private and commercial motor vehicle finance providers
  • Debt management and debt settlement providers
  • Pawn shops and affiliated lenders
  • Property tax lenders
  • Tax refund anticipation loan providers and facilitators
  • Residential mortgage loan originators and servicers
  • Other providers as appropriate

All of these organizations must follow certain responsibilities and adhere to certain standards of conduct. In particular, they must follow all applicable restrictions on debt collection practices, maintain interest at non-usurious rates, ensure that they do not run afoul of lender liability prohibitions and avoid seizing property or taking other actions outside the bounds of the law.

The Texas Office of Consumer Credit Commissioner dutifully investigates all allegations of wrongdoing by OCCC-registered entities. However, borrowers who believe that their rights have been infringed upon by creditors should also consult an experienced business lawyer to maximize their chances of a favorable outcome.

Work with a Seasoned Houston Credit Attorney

At The Law Office of Henry Jakob, we are fully committed to holding wayward lenders and debt collection agents accountable for their actions. Moreover, we understand the importance of financial well-being for consumers, small business owners and those who depend on them. Accordingly, we are fully committed to representing our credit regulation clients.

Whether you are a Galveston homeowner who wishes to learn more about usury laws and lender liability or a Sugar Land small business owner with questions about the implications of credit regulation in pending commercial litigation, we are happy to evaluate your situation and assist with every resource available.

Contact Us Today

For more information about the extensive credit law capabilities of our Houston credit lawyers or to schedule a consultation on matters related to credit regulation, consumer protection, real estate law or business planning in Harris, Fort Bend and Waller County, please fill out the online contact form or call 713.640.5700 at your convenience.

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