Spent last week traveling all over Texas visiting with new and existing clients, also went to the OCCC offices for two meetings.  Still trying to get caught up as of today, it is important for blog readers and site visitors to know a variety of things as January 1, 2012 is just 11 days from today.

Something I want emphasize heavily:  if you are a CSO with existing business and you have not begun the application process, contact CAB Consulting and Brokerage or the OCCC immediately.  I am getting calls from business owners who are not fully aware of the situation or have not completed the application.  The deadline for licensing is January 1, 2012.  If you do not have a license in hand on that date, your CSO should not be offering payday or title loans.

You have options if you are late in the process.  The Texas Finance Commission voted on Friday to allow for the creation of a provisional license for Credit Access Business license applicants.  If your CSO has not submitted an application as of now you will need to seek a provisional license.  The OCCC is working intensely and is still processing CAB applications that were submitted well ahead of the deadline.

If your business does not have a license or provisional license in hand on January 1, 2012 and you are operating you could be subject to fines.

I have more information about this and can help if you have questions.  Feel free to call Michael Brown at 214-293-8676 or email cabconbrokerage@gmail.com.

If you wish to contact the OCCC directly on the matter, you can reach them at 512-936-7600.