{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-6-104","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-6-104","heading":"Powers and duties of Administrator","body":"(1) In addition to other powers granted by this title, the\n\nAdministrator of Consumer Credit may, within the limitations\n\nprovided by law:\n\n(a) receive and act on complaints, take action designed to\n\nobtain voluntary compliance with this title, or\n\ncommence proceedings on the Administrator's own\n\ninitiative,\n\n(b) counsel persons and groups on their rights and duties\n\nunder this title,\n\n(c) establish programs for the education of consumers with\n\nrespect to credit practices and problems,\n\n(d) make studies appropriate to effectuate the purposes\n\nand policies of this title and make the results\n\navailable to the public,\n\n(e) with approval by the Commission on Consumer Credit\n\nadopt, amend, and repeal substantive rules when\n\nspecifically authorized by this title, and adopt,\n\namend, and repeal procedural rules to carry out the\n\nprovisions of this title, all as provided by the\n\nAdministrative Procedures Act, and\n\n(f) enforce the disclosure provisions of the Federal\n\nConsumer Credit Protection Act as defined in Section\n\n1-302 of this title.\n\n(2) Except for refund of an excess charge, no liability is\n\nimposed under this title for an act done or omitted in conformity\n\nwith a rule of the Administrator or written opinion of the\n\nAdministrator stating rights and duties issued on the\n\nAdministrator's own motion or in response to a request under\n\nparagraph (b) of subsection (1) of this section notwithstanding that\n\nafter the act or omission the rule or opinion may be amended or\n\nrepealed or be determined by judicial or other authority to be\n\ninvalid for any reason. The opinions of the Administrator shall be\n\ncompiled and published no less often than annually.\n\n(3) The Administrator shall report annually on or before\n\nJanuary 1 to the Governor and Legislature on the operation of the\n\nAdministrator's office, on the use of consumer credit in the state,\n\nand on the problems of persons of small means obtaining credit from\n\npersons regularly engaged in extending sales or loan credit. For\n\nthe purpose of making the report, the Administrator is authorized to\n\nconduct research and make appropriate studies. The report shall\n\ninclude a description of the examination and investigation\n\nprocedures and policies of the Administrator's office, a statement\n\nof policies followed in deciding whether to investigate or examine\n\nthe offices of credit suppliers subject to this title, a statement\n\nof the number and percentages of offices which are periodically\n\ninvestigated or examined, a statement of the types of consumer\n\ncredit problems of both creditors and debtors which have come to\n\nthe Administrator's attention through examinations and\n\ninvestigations and the disposition of them under existing law, and a\n\ngeneral statement of the activities of the Administrator's office\n\nand of others to promote the purposes of this title. The report\n\nshall not identify the creditors against whom action is taken by the\n\nAdministrator.\n\n(4) The Administrator may enter into cooperative, coordinating\n\nand information-sharing agreements with any other agencies that have\n\nsupervisory or regulatory responsibility over any entity that has\n\nbeen or may be licensed by the Department of Consumer Credit or any\n\norganization affiliated with or representing one or more agencies\n\nwith supervisory or regulatory responsibility over any entity that\n\nhas been or may be licensed by the Department, and the Administrator\n\nmay accept reports of examination and reports of investigation from\n\nany such agency or organization in lieu of conducting the\n\nAdministrator's own examinations or investigations. The\n\nAdministrator may cooperate, coordinate and enter into information-\n\nsharing agreements with the Oklahoma State Banking Department and\n\nother state agencies with whom the agreements may be mutually\n\nbeneficial.\ntor\n\nmay accept reports of examination and reports of investigation from\n\nany such agency or organization in lieu of conducting the\n\nAdministrator's own examinations or investigations. The\n\nAdministrator may cooperate, coordinate and enter into information-\n\nsharing agreements with the Oklahoma State Banking Department and\n\nother state agencies with whom the agreements may be mutually\n\nbeneficial.\n\n(5) The Administrator shall have the authority to adopt rules,\n\nnot inconsistent with the provisions of this title, to limit the\n\namount of the additional charges that lenders are permitted to\n\nimpose under subsections (1) and (2) of Section 3-202 of this title\n\nand Section 3-203.2 of this title, or to limit the amount of\n\ndeferral charges that sellers and lenders may impose under\n\nsubsections (2) and (3) of Section 2-204 of this title and\n\nsubsections (2) and (3) of Section 3-204 of this title. The\n\nAdministrator shall:\n\n(a) in promulgating, amending or repealing rules pursuant\n\nto this section, take into consideration whether\n\nlimits on the additional charges permitted under\n\nsubsections (1) and (2) of Section 3-202 of this title\n\nand Section 3-203.2 of this title, or limits on\n\ndeferral charges that sellers and lenders may impose\n\nunder subsections (2) and (3) of Section 2-204 of this\n\ntitle and subsections (2) and (3) of Section 3-204 of\n\nthis title, would:\n\n(i) place lenders located in this state at a\n\ncompetitive disadvantage, with respect to the\n\nadditional charges, as compared to out-of-state\n\ncredit card lenders or place sellers and lenders\n\nin this state at a competitive disadvantage with\n\nrespect to the deferral charges, as compared to\n\nout-of-state sellers and lenders,\n\n(ii) require sellers or lenders located in this state\n\nto impose higher finance charges, or\n\n(iii) impede the growth of consumer credit sales or the\n\nconsumer lending industry in this state, and\n\n(b) adopt rules limiting the dollar amounts of the\n\nadditional charges permitted under subsections (1) and\n\n(2) of Section 3-202 of this title and Section 3-203.2\n\nof this title, or the deferral charges permitted under\n\nsubsections (2) and (3) of Section 2-204 of this title\n\nand subsections (2) and (3) of Section 3-204 of this\n\ntitle, in the event that the Administrator determines\n\nthat such limits are necessary to protect debtors in\n\nthis state from being subjected to charges which are\n\nunreasonable or excessive as compared to the\n\nprevailing charges being imposed by out-of-state\n\nlenders and sellers.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e346f10967c5c5dd2f1c1cf4a5283e72464cf6cb896ef57184ddd6ee5d466868","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-6-103","next":"us-ok/okla.-stat.-tit.-14a-14a-6-105"},"notice":"GroundRules: Original legal text. Not legal advice."}