By: Capriglione H.B. No. 3873
A BILL TO BE ENTITLED
AN ACT
relating to the Office of Consumer Credit Commissioner, the
consumer credit commissioner, and the duties of the consumer credit
commissioner, including the regulation of credit access
businesses.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 14.051, Finance Code, is amended to read
as follows:
Sec. 14.051. CONSUMER CREDIT COMMISSIONER. (a) The
finance commission shall appoint the commissioner.
(b) The commissioner:
(1) serves at the will of the finance commission; and
(2) is subject to orders and directions of the finance
commission, including any applicable orders and directions
relating to the commissioner's duties under Subchapter E or other
provisions of this code.
SECTION 2. Section 14.052, Finance Code, is amended to read
as follows:
Sec. 14.052. DIVISION OF CONSUMER PROTECTION. The division
of consumer protection is a division in the office and is under the
direction of the commissioner. The mission of the division shall
include the development and promotion of the programs described in
Section 14.103.
SECTION 3. Section 14.101, Finance Code, is amended to read
as follows:
Sec. 14.101. GENERAL DUTIES OF COMMISSIONER. The
commissioner shall enforce Section 339.001, this chapter,
Subtitles B and C of Title 4, including rules adopted by the finance
commission under those subtitles relating to interest, loans, and
certain financed transactions, Chapter 393 with respect to a credit
access business, including rules adopted by the finance commission
governing credit access businesses, and Chapter 394 in person or
through an assistant commissioner, examiner, or other employee of
the office.
SECTION 4. This Act takes effect September 1, 2015.