Welcome to the Oklahoma Department of Consumer Credit's ("OKDOCC") online office. As you browse our website, please let us know if you have any questions that cannot be answered throughout our various links. In an effort to improve openness and communication from this office, I welcome your suggestions or comments. The Oklahoma Department on Consumer Credit was created by the Oklahoma Legislature in 1969. The Department is responsible for the regulation of consumer credit sales and consumer loans in the State of Oklahoma. The Department is also responsible for the licensing and regulation of mortgage brokers, mortgage loan originators, pawnshops, deferred deposit lenders, rental purchase lessors, health spa contracts, credit service organizations and precious metal and gem dealers. The Department is governed by the Commission on Consumer Credit. Commission members are appointed by the Governor with the advice and consent of the Oklahoma State Senate. The Oklahoma State Banking Commissioner serves as an ex-officio, non-voting member. The Commission appoints an Administrator to manage the Department. This site is a tool for licensees and consumers to use who may want to learn more about our office. Your questions and concerns are important.  WE protect and educate consumer buyers, lessees and borrowers against unfair practices, and are fair and impartial in the regulation of consumer credit transactions in Oklahoma. Thank you for visiting our web site. Yours Truly,  Scott Lesher, Administrator

History

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.

Over the years, the Oklahoma Legislature has given the following additional duties to the Department:

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
3613 NW 56th Street, Suite 240
Oklahoma City, Oklahoma 73112-4512
Phone: (405) 521-3653 | Fax: (405) 521-6740
In-state Consumer Hotline: (800) 448-4904