CONSUMER CREDIT COMMISSIONER
CONSUMER CREDIT COMMISSIONER. The Office of Consumer Credit Commissioner was established in 1967 to enforce the provisions of the Texas Credit Code. This office replaced the Office of Regulatory Loan Commissioner, established in 1963 as part of the Texas Regulatory Loan Act. The regulatory loan commissioner, appointed by the finance commission, was responsible for the regulation of licensed agencies engaged in making loans of up to $1,500, and he could promulgate regulations to implement the act. By 1970 the maximum loan amount had been increased to $2,500. At that time the agency had thirty-seven employees. In addition to regulating loan companies, the new office was to license and examine lenders who made installment loans to purchase motor vehicles. In 1978 pawn shops came under supervision of the commission. The Sixty-second Legislature placed loans made by vending-machine operators to tavern keepers under the commission, and the Sixty-third Legislature extended regulation to lenders whose sole purpose was to finance insurance premiums. In 1975 the act was amended to conform with the federal Truth in Lending Act, with the commission responsible for enforcement of the changes. The commission also began to register sellers of consumer goods and mobile homes on credit. From 1967 to 1973 the commission had joint responsibility with the attorney general's office over deceptive trade practices. In 1980 responsibility to regulate financing of insurance premiums was transferred to the State Insurance Board. Complaints about credit-card sales are also handled by the commission. The policy-making body of the commission is the nine member Finance Commission, which hires the commissioner. Since 1990 appropriations have been around $1.2 million, and the number of employees has been around thirty.