TexOMBE News, Volume 2, Number 6, November-December 1974 Page: PAGE3
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Know Your State Agencies-VI
Office of Consumer Credit CommissionerContinuing a series of articles on Texas State
Agencies of interest to business. Future issues
will cover other agencies and departments hav-
inig purchasing or regulatory responsibilities
affecting business interests in Texas.
The Office of Consumer Credit
Commissioner holds broad regula-
tory powers over many forms of
consumer credit. The office was
formed in 1967, when it super-
ceded the Office of Regulatory
Loan Commissioner, originally es-
tablished to regulate loan compa-
*TEXAS
INDUSTRIAL
COMMISSION
OFFICE OF
MINORITY BUSINESS ENTERPRISEVOL. 2 November-December, 1974
nies making cash loans of $1500 or
less.
At the time of its formation, the
OCCC was granted increased regu-
latory powers over such small loan
companies and also over other con-
sumer credit such as installment
loans, retail installment sales and
motor vehicle installment sales. In
subsequent years, the Commission
was also empowered to regulate
loans made by vending machine
operators to tavern keepers, and
to enforce the Texas Pawn Shop
Act, passed by the 62nd Legisla-
ture.
Included in the Commission's
duties is the issuance of licenses
to those businesses operating under
the portion of the Texas Consumer
Credit Code applying to regulated
loans. The office also regulates
such businesses.
In addition to licensing smalllenders, the Commission is empow-
ered to investigate and handle com-
plaints and to enforce sections of
the Consumer Credit Code dealing
with consumer credit. It shares
jurisdiction with the State Attorney
General's office in enforcing pro-
visions of the Code relating to con-
sumer protection and deceptive
trade practices.
Another area of responsibility
relates to use of promotional games
in advertising. The Commission is
empowered to require reports from
retail firms ensuring compliance
with laws dealing with deceptive
trade practices and such promotion-
al advertising games as prize draw-
ings and "free bonuses." Finally,
it encourages and assists in devel-
oping educational programs "pro-
moting the prudent and beneficial
use of consumer credit by citizens
of the state."NO. 6
DIRECTOR
Frank Hutchinson
EDITOR
Ralph Hausser
FIELD OFFICES:
Austin (78701)
1711 San Antonio Street
(512) 475-5945
Carlos Herrera, FPO
Lubbock (79401)
918 Avenue J
(806) 763-9103
Jaime Garcia, FPO
Odessa (79760)
312 W. 4th St., Suite 205
(915) 332-0741
Jesus Holguin, FPO
Tyler (75701)
305 S. Broadway, Suite 711
(214) 595-2676
Charles Stine, FPO
A publication of TexOMBE. Editorial Con-
tributions are welcome and should be addressed
to Editor, TexOMBE NEWS, 1711 San Antonio
Street, Austin, Texas 78701.
TexOMBE is a project funded by the United
States Department of Commerce.Minority Group New Owners
Of Del Rio VW DealershipFive months of cost factor and
market analysis came to a successful
end December 13th when J. Ingle
Volkswagen of Del Rio held its
grand opening. The dealership,
owned by Louis Terrazas, George
Ozuna, and J. Ingle, was purchased
from its previous owners after local
banks agreed to extend over
$100,000 in credit for "floor plan-
ning" --stocking the dealership
with automobiles, parts, and new
service equipment.
Work on the buyout began last
August, when exploratory confer-
ences were held between James
Richardson, TexOMBE Private En-
terprise Coordinator, Central Texas
Volkswagen Distributors of San An-
tonio, and the Ingle group. Al-though interested in the dealership
package, both Central Texas VW
and local bankers had to be further
convinced of its viability as an in-
vestment.
Richardson used the Texas Indus-
trial Commission's computerized
community profile on Del Rio and
a motel study to prove the town's
ability to support the dealership.
Further market studies, cost fac-
toring, and financial data provided
by the dealership's previous owners
convinced both groups that invest-
ment potentials were sound. Al-
though Del Rio's population is only
22,000, it is a major regional mar-
ket center and gateway to both
Mexico and the Amistad Recrea-
tion Area.TexOMBE NEWS
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Reference the current page of this Periodical.
Texas Industrial Commission. TexOMBE News, Volume 2, Number 6, November-December 1974, periodical, November 1974; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1588967/m1/3/: accessed July 2, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.