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The Department of Consumer Credit is a state regulatory agency originally created in 1969 to regulate the consumer lending business in Oklahoma through the newly adopted Oklahoma Uniform Consumer Credit Code. The Code represented the first body of law in Oklahoma comprehensively regulating non-commercial credit, small loans, installment sales and usury. Oklahoma was one of the first states in the nation to adopt a unified code in this field. The Code also exempts Oklahoma from federal regulation, although Oklahoma's rules must be substantially similar to Federal Truth in Lending requirements.

Over the years, the Oklahoma Legislature has given the following additional duties to the Department:

Duties Year  Title

Oklahoma Pawnshop Act


Title 59 §§ 1501-1515

Precious Metal & Gem Dealer Licensing Act


Title 59 §§ 1521-1532

Credit Services Organization Act


Title 24 §§ 131-148   

Oklahoma Health Spa Act


Title 59 §§ 2000-2012

Rental-Purchase Act


Title 59 §§ 1950-1957

Deferred Deposit Lender Act


Title 59 §§ 3101-3119

Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act


Title 59 §§ 2095-2095.26

Oklahoma Small Lender


Title 59 §§ 3150 -3150.27

The rules of the Administrator of the Department promulgated pursuant to the above referenced Code and Acts are codified in the Oklahoma Administrative Code at Title 160.

The Department of Consumer Credit furthers understanding of the terms of credit transactions; protects consumer buyers, lessees and borrowers against unfair practices; permits and encourages the development of fair and economically sound consumer credit practices, and implements the Uniform Consumer Credit Code in the State of Oklahoma.

Last Modified on May 23, 2024
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