OCCC CASE NO. L18-00171
INJUNCTIVE ORDER TO FILE TIMELY AND
ACCURATE ANNUAL REPORTS
South Texas Loan is a regulated lender licensed by the OCCC under
Chapter 342 of the Texas Finance Code. South Texas Loan operates under master
file number 1391 at one licensed location, under license number 7034. South
Texas Loan’s compliance officer is William Beazley, III, and its designated
contact address is 210 N. Washington St., Beeville, Texas 78102.
A regulated lender must file annual reports with the Consumer Credit
Commissioner (“Commissioner”).2 A regulated lender must file the required
annual report by May 1 for the prior year’s calendar loan activity on forms
prescribed by the Commissioner and must comply with all instructions relating
to submitting the report.3
South Texas Loan did not file its 2017 annual report with the
Commissioner by May 1, 2018. In correspondence dated May 8, 2018, the OCCC
notified South Texas Loan that its 2017 annual report had not been received and
extended the deadline to file the report to May 18, 2018. As of the date of this
Order, the OCCC has not received South Texas Loan’s 2017 annual report.
The Commissioner may issue an injunction ordering a regulated lender to
file one or more complete, accurate, and timely annual reports if the
Commissioner has reasonable cause to believe that the regulated lender is
violating Chapter 342 of the Texas Finance Code.4
The Commissioner has reasonable cause to believe that South Texas Loan
is violating Chapter 342 of the Texas Finance Code, and therefore issues this
Order, because South Texas Loan failed to timely file its 2017 annual report.
PV
4 months ago
OCCC CASE NO. L18-00171
INJUNCTIVE ORDER TO FILE TIMELY AND
ACCURATE ANNUAL REPORTS
South Texas Loan is a regulated lender licensed by the OCCC under
Chapter 342 of the Texas Finance Code. South Texas Loan operates under master
file number 1391 at one licensed location, under license number 7034. South
Texas Loan’s compliance officer is William Beazley, III, and its designated
contact address is 210 N. Washington St., Beeville, Texas 78102.
A regulated lender must file annual reports with the Consumer Credit
Commissioner (“Commissioner”).2 A regulated lender must file the required
annual report by May 1 for the prior year’s calendar loan activity on forms
prescribed by the Commissioner and must comply with all instructions relating
to submitting the report.3
South Texas Loan did not file its 2017 annual report with the
Commissioner by May 1, 2018. In correspondence dated May 8, 2018, the OCCC
notified South Texas Loan that its 2017 annual report had not been received and
extended the deadline to file the report to May 18, 2018. As of the date of this
Order, the OCCC has not received South Texas Loan’s 2017 annual report.
The Commissioner may issue an injunction ordering a regulated lender to
file one or more complete, accurate, and timely annual reports if the
Commissioner has reasonable cause to believe that the regulated lender is
violating Chapter 342 of the Texas Finance Code.4
The Commissioner has reasonable cause to believe that South Texas Loan
is violating Chapter 342 of the Texas Finance Code, and therefore issues this
Order, because South Texas Loan failed to timely file its 2017 annual report.
PV
1 year ago
PV
4 months ago