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The Department of Consumer Credit is a state regulatory agency originally created in 1969 to regulate the consumer lending business in Oklahoma through the newly adopted Oklahoma Uniform Consumer Credit Code. The Code represented the first body of law in Oklahoma comprehensively regulating non-commercial credit, small loans, installment sales and usury. Oklahoma was one of the first states in the nation to adopt a unified code in this field. The Code also exempts Oklahoma from federal regulation, although Oklahoma's rules must be substantially similar to Federal Truth in Lending requirements.
The rules of the Administrator of the Department promulgated pursuant to the above referenced Code and Acts are codified in the Oklahoma Administrative Code at Title 160.
The Department of Consumer Credit furthers understanding of the terms of credit transactions; protects consumer buyers, lessees and borrowers against unfair practices; permits and encourages the development of fair and economically sound consumer credit practices, and implements the Uniform Consumer Credit Code in the State of Oklahoma.
Duties / Responsibilities
The Department of Consumer Credit is charged with the responsibility of administering the Uniform Consumer Credit Code, which includes provisions with respect to maximum charges, rate ceilings, disclosure requirements, enforcement rights, contract terms, advertising requirements and administration control. That responsibility includes investigation and licensing of creditors designated as Supervised Lenders, and regulation through filing of notice by non-supervised creditors. The Commission also has investigation and licensing duties under the Pawnshop Act, Precious Metal and Gem Dealers Act, Credit Services Organization Act, Health Spa Act, Rental-Purchase Lessor Act and the Mortgage Broker Licensure Act. The Commission conducts customer records exams of licensed Supervised Lenders, Pawnbrokers, Credit Service Organizations, Rental-Purchase Lessors, and Mortgage Brokers.
Oklahoma Department of Consumer Credit
Q: What is the phone number of ...
A: SEE BELOW
Q: Consumer Credit Counseling?
Q: Veritec? or to see how many loans I have out?
Q: Better Business Bureau?
A: OKC 405-239-6083
Q: Secretary of State?
Q: Consumer Protection?
Q: Credit Reports?
A: Toll-free numbers:
State of Oklahoma
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