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BankersOnline.com Forums State-Specific Compliance Issues Texas Auto Finance Regulated?
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#1802697 - 04/09/13 02:54 PM Auto Finance Regulated?
Seven11Eleven Offline
Junior Member
Seven11Eleven
Joined: Dec 2006
Posts: 30
Are auto finance companies that do title lending or in-house lending regulated by the State of Texas? Federally regulated?

We consider banking NBFIs if they are regulated.
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"Do the hard jobs first. The easy jobs will take care of themselves." -Dale Carnegie

You should look up Philippians 4:13

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#1802756 - 04/09/13 03:57 PM Re: Auto Finance Regulated? Seven11Eleven
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,394
Galveston, TX
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#1802764 - 04/09/13 04:06 PM Re: Auto Finance Regulated? Seven11Eleven
Pale Rider Offline
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Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
Licensed may be a better term than regulated.

These companies can charge customers in excess of 600% interest on small dollar short term loans.

They feed on low income Texans that may not have access to mainstream financial services and products.
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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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