| (a) Generally. Each licensee must file the required
reports described by this section for the prior period's credit access
business activity in a form prescribed by the commissioner and must
comply with all instructions relating to submitting the reports. During
each calendar year, licensees are required to submit four quarterly
reports as provided by Texas Finance Code, §393.627. Additionally,
certain quarterly data will be collected by the OCCC on an annual
basis under Texas Finance Code, §393.622(a)(1). For purposes
of this section, the term "annual report" refers to the quarterly
data submitted on an annual basis. Each quarterly or annual report
must be completed in accordance with the OCCC's instructions. All
information provided on each quarterly or annual report must be accurate
and calculated in accordance with the OCCC's instructions.
(b) Due dates.
(1) Quarterly reports. The quarterly reports are due
on:
(A) April 30, for transactions conducted during January
through March;
(B) July 31, for transactions conducted during April
through June;
(C) October 31, for transactions conducted during July
through September; and
(D) January 31, for transactions conducted during October
through December.
(2) Annual report. The annual report is due on January
31 for transactions conducted during the preceding January through
December.
(c) Confidentiality. All individual licensee submissions
of data, whether submitted on a quarterly or annual basis, are confidential
in their entirety under the provisions of Texas Finance Code, §393.622(b).
(d) Aggregated public information. The OCCC will publish
aggregated data on its website within a reasonable time after each
quarterly report and annual report is due.
(e) Enforcement actions. The OCCC may take enforcement
actions described by this subsection if a licensee violates this section
by failing to file a complete and accurate quarterly or annual report
by the applicable deadline.
(1) Injunction. As provided by Texas Finance Code, §14.208(a),
if the OCCC has reasonable cause to believe that a licensee has violated
this section, it may issue an injunction ordering the licensee to
file one or more complete, accurate, and timely quarterly or annual
reports.
(2) Administrative penalty. As provided by Texas Finance
Code, §14.251, the OCCC may assess an administrative penalty
against a licensee that knowingly and wilfully violates Texas Finance
Code, §393.627 or this section. In addition, as provided by Texas
Finance Code, §14.208(c), the OCCC may impose an administrative
penalty against a licensee that violates an injunction described by
paragraph (1).
(3) Cumulative sanctions. The OCCC may impose the following
sanctions for violations of this section.
(A) First violation. If the licensee violates this
section and has not violated this section during any of the four quarters
preceding the violation, then the OCCC may issue an injunction.
(B) Second violation. If the licensee violates this
section during any of the four quarters following a first violation
described by subparagraph (A) of this paragraph, then the administrative
penalty is $500 for each licensed location.
(C) Third and subsequent violations. If the licensee
violates this section during any of the four quarters following a
second violation described by subparagraph (B) of this paragraph,
then the administrative penalty is $1,000 for each licensed location.
The $1,000 administrative penalty applies to subsequent violations
that occur during any of the four quarters following a third or subsequent
violation described by this subparagraph.
(4) Suspension or revocation. If the licensee violates
this section during any of the four quarters following a third or
subsequent violation described by subsection (e)(3)(C) of this section,
or if a licensee fails to pay an administrative penalty required by
a final administrative penalty order, then the OCCC may suspend or
revoke the licensee's license, as provided by Texas Finance Code, §393.614.
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| Source Note: The provisions of this §83.5001 adopted to be effective November 10, 2011, 36 TexReg 7518; amended to be effective January 3, 2013, 37 TexReg 10203; amended to be effective March 10, 2016, 41 TexReg 1673; amended to be effective November 5, 2020, 45 TexReg 7704 |
