TX OCCC Amends Regulated Lender Rules

To implement the transition of Regulated Lenders to NMLS, the Texas Office of Consumer Credit Commission (OCCC) issued amended regulations, which became effective on January 1, 2026.

New, renewal, and branch applications, including transfer of ownership applications, must be submitted to OCCC via NMLS.  A transfer of ownership is defined as a purchase or acquisition of a licensee or a substantial portion of the assets of a licensee, where a substantial change in management or control of the business occurs. However, transfer of ownership does include changes to the proportionate ownership interests of current owners of a licensee, unless one of the owners increases their interest to 10% or more.  

A licensee must notify OCCC of certain changes by submitting an advance change notice (ACN) on NMLS.  Licensees and key individuals must report via NMLS, within 30 days of discovery, any new civil or regulatory actions, changes in disclosure questions, new criminal history, bankruptcy filings by the licensee or direct owner, and any data breach affecting at least 250 Texas residents.

To surrender a license, the licensee must submit a request and provide the information required by the NMLS Checklist.  The surrender only becomes effective once OCCC approves the request.