| 1 | 1 | | By: Capriglione H.B. No. 3873 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the Office of Consumer Credit Commissioner, the |
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| 7 | 7 | | consumer credit commissioner, and the duties of the consumer credit |
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| 8 | 8 | | commissioner, including the regulation of credit access |
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| 9 | 9 | | businesses. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 14.051, Finance Code, is amended to read |
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| 12 | 12 | | as follows: |
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| 13 | 13 | | Sec. 14.051. CONSUMER CREDIT COMMISSIONER. (a) The |
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| 14 | 14 | | finance commission shall appoint the commissioner. |
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| 15 | 15 | | (b) The commissioner: |
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| 16 | 16 | | (1) serves at the will of the finance commission; and |
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| 17 | 17 | | (2) is subject to orders and directions of the finance |
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| 18 | 18 | | commission, including any applicable orders and directions |
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| 19 | 19 | | relating to the commissioner's duties under Subchapter E or other |
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| 20 | 20 | | provisions of this code. |
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| 21 | 21 | | SECTION 2. Section 14.052, Finance Code, is amended to read |
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| 22 | 22 | | as follows: |
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| 23 | 23 | | Sec. 14.052. DIVISION OF CONSUMER PROTECTION. The division |
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| 24 | 24 | | of consumer protection is a division in the office and is under the |
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| 25 | 25 | | direction of the commissioner. The mission of the division shall |
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| 26 | 26 | | include the development and promotion of the programs described in |
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| 27 | 27 | | Section 14.103. |
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| 28 | 28 | | SECTION 3. Section 14.101, Finance Code, is amended to read |
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| 29 | 29 | | as follows: |
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| 30 | 30 | | Sec. 14.101. GENERAL DUTIES OF COMMISSIONER. The |
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| 31 | 31 | | commissioner shall enforce Section 339.001, this chapter, |
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| 32 | 32 | | Subtitles B and C of Title 4, including rules adopted by the finance |
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| 33 | 33 | | commission under those subtitles relating to interest, loans, and |
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| 34 | 34 | | certain financed transactions, Chapter 393 with respect to a credit |
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| 35 | 35 | | access business, including rules adopted by the finance commission |
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| 36 | 36 | | governing credit access businesses, and Chapter 394 in person or |
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| 37 | 37 | | through an assistant commissioner, examiner, or other employee of |
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| 38 | 38 | | the office. |
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| 39 | 39 | | SECTION 4. This Act takes effect September 1, 2015. |
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