OCCC Compliance

CAB Consulting – Your Trusted Partner for OCCC Compliance

Ensure your Credit Access Business (CAB) is fully prepared for OCCC examinations by engaging CAB Consulting for an Examination Preparedness Test, or “Internal Audit.”

Why Choose CAB Consulting?

With our expertise, we’ll help you:

  • Identify Compliance Gaps: Review your business operations to spot potential issues.
  • Strengthen Processes: Improve internal workflows to align with OCCC regulations.
  • Achieve Regulatory Confidence: Ensure your CAB is fully prepared to meet state standards.

At the heart of our service is the CAB Consulting OCCC Chapter 393 Examiner Checklist Breakdown and Summary, a comprehensive guide designed to:

  1. Review your business operations.
  2. Educate your team on OCCC rules and regulations.
  3. Identify potential compliance issues.
  4. Provide actionable solutions to address any concerns.

Why Conduct an Internal Audit?

Performing an internal audit in preparation for an OCCC examination offers several benefits:

  1. Ensure Compliance: Meet regulatory requirements and address deficiencies before state regulators discover them.
  2. Avoid Penalties: Proactively resolve issues to prevent fines, sanctions, or legal actions.
  3. Maintain Reputation: Show responsibility and professionalism by addressing compliance proactively.
  4. Reduce Operational Risks: Identify inefficiencies, fraud risks, and mismanagement.
  5. Prepare for Regulator Questions: Organize documentation and train staff for accurate responses during audits.
  6. Streamline Processes: Optimize workflows and improve operational efficiency.
  7. Build Stakeholder Confidence: Reassure investors and partners of your commitment to compliance.
  8. Meet Regulator Expectations: Demonstrate proactive governance with regular internal reviews.

How We Conduct the Internal Audit

CAB Consulting will perform a remote internal audit of your Credit Access Business. Using the official OCCC Examiner Checklist and our proprietary Chapter 393 Examiner Checklist Breakdown and Summary, we will work through 13 critical areas of an OCCC audit to ensure a thorough review of your business.

  • Process Overview:
    1. Communication: All discussions and Q&A will take place via phone and email.
    2. Document Requests: Specific business documents will be requested for review.
    3. NDA Agreement: A Non-Disclosure Agreement will be signed to ensure confidentiality.
    4. Detailed Findings Report: At the end of the audit, you’ll receive a comprehensive report highlighting areas of concern and actionable solutions.
    5. Compliance Support: If any issues arise, we’ll assist you in implementing the necessary corrections.

This service is included as part of our retainer, ensuring that your business achieves full compliance with regulatory requirements.

Areas of Review

Our audit will address the following critical areas:

  1. Examination Process
  2. Licensing and Regulation
  3. Posted Notices – Fee Schedule and Required Notices
  4. Initial CAB Disclosure
  5. Initial CSO Disclosure Statement
  6. Contract/Agreement
  7. Loan/Promissory Note
  8. Security Agreement
  9. Prohibitions and Restrictions
  10. Loan Servicing/Collections
  11. Repossessions
  12. Advertising
  13. Additional Provisions

Why CAB Consulting?

With our proven expertise in OCCC compliance, CAB Consulting is the trusted partner for Credit Access Businesses across Texas. Let us help you navigate the complexities of regulatory requirements and prepare your business for success.