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Can you summarize Tex. Fin. Chapter 14?
FINANCIAL REGULATORY AGENCIES > CONSUMER CREDIT COMMISSIONER
Short Summary
The provided legal document content pertains to the powers and duties of the Consumer Credit Commissioner in Texas, including the enforcement of consumer credit regulations and the coordination of educational and debt counseling programs. It also covers the obtaining and use of criminal history record information by the Commissioner’s office, the assessment of administrative penalties and restitution orders for violations related to consumer credit, and the process of judicial review in relation to the decisions made by the Commissioner. The documents apply to the Consumer Credit Commissioner’s office in Texas, creditors, credit access businesses, and individuals or entities involved in transactions with them. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
The Consumer Credit Commissioner's office in Texas, creditors, credit access businesses, officers, directors, owners, employees, and persons having a substantial relationship with a business entity that is an applicant for a license or registration, a license holder, or a registrant.
What does it govern?
The provided legal document content covers the powers and duties of the Consumer Credit Commissioner in Texas, including the enforcement of consumer credit regulations and the coordination of educational and debt counseling programs.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
Administrative penalties can be assessed against violators, with a maximum amount of $1,000 per day of the violation. The aggregate amount of penalties that the Commissioner may assess against a person in one calendar year is limited to the lesser of $100,000 or an amount that is equal to the greater of five percent of the net worth of the creditor or $5,000.
Jurisdiction
Texas