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The Law Offices of Alan Abergel, P.C. (“LOAA”) represents credit access businesses, consumer lending companies, and financial services firms in Texas in licensing, regulatory compliance, transactional, and administrative matters.
Attorney Alan Abergel is licensed by both the State Bar of Texas and the State Bar of California.
A credit access business (CAB) is a business that obtains consumer credit from an independent third-party lender for a consumer in the form of:
Deferred presentment transactions (commonly known as payday loans)
Motor vehicle title loans
The CAB charges a fee for obtaining the third-party loan, typically calculated as a percentage of the loan amount.
In a typical CAB transaction:
The borrower signs a promissory note with the third-party lender; and
A separate credit services agreement with the credit access business.
Documents are generally executed at the CAB location, and payments are commonly made through the CAB.
Texas credit access businesses are licensed and regulated by the Office of Consumer Credit Commissioner (OCCC) and may also be subject to oversight by other state and federal regulatory authorities.
CABs must comply with:
Texas Finance Code and OCCC administrative rules
State and federal consumer lending laws
Federal consumer protection regulations enforced by the Consumer Financial Protection Bureau (CFPB)
LOAA provides legal services to Texas credit access businesses and consumer lenders, including:
Assistance with obtaining a Texas Credit Access Business license
Guidance on CAB license application requirements
Assistance with transfer of a Texas Credit Access Business license
Assistance with Texas Credit Service Organization (CSO) registration and compliance
Compliance counseling for payday lenders, auto title lenders, and installment lenders
Advice on state and federal consumer lending laws
Drafting of loan documents and credit service agreements
Regulatory compliance counseling for secured and unsecured lending programs
Legal Opinions: LOAA provides legal opinions to individuals and businesses that need a legal analysis of whether their activities require a Texas financial regulation license and which one and under which classification. These opinions involve a detailed examination of the services provided, the compensation structure, the relationship between the service provider and the customer, and the specific statutory definitions and exemptions. A well-reasoned legal opinion provides the client with a documented basis for its compliance position and can serve as evidence of good faith in the event of a future Texas agency regulatory inquiry about whether the client's activities constitute unlicensed practice.
LOAA advises CABs and consumer lenders on compliance with:
Texas consumer lending laws and OCCC regulations
Federal consumer credit laws and regulations
CFPB rules and enforcement policies
Licensing, disclosure, and servicing requirements
The firm assists clients in structuring lending programs to meet regulatory requirements while supporting business objectives.
LOAA represents credit access businesses in regulatory matters involving:
Administrative hearings and licensing actions
Investigations and inquiries by the CFPB
The firm advises CABs on regulatory response strategies, compliance remediation, and enforcement risk mitigation.
LOAA also represents CABs and OCCC-licensed companies in:
Mergers and acquisitions involving CABs and consumer lenders
Private securities offerings and Private Placement Memoranda (PPMs)
Corporate structuring and governance matters
LOAA provides transactional, licensing, compliance, administrative, and civil regulatory defense legal services to credit access businesses and consumer lending companies.
LOAA does not represent consumers.
“I engaged Alan to help me through the complexities of obtaining my Lenders License. He was very knowledgeable about the process and provided me with a high level of service. I worked quickly getting him all the information needed and he worked at my pace. He was responsive to e-mails and questions and followed up with the DFPI to make sure everything was filed correctly. I had read online that this process could take as long as 6 months however Alan completed the assignment in less than 3 I will be retaining his services in the future to ensure my company remains in compliance."
--Petroleum Realty Group Inc.
"I hired Alan to represent me as a mortgage broker before the California Department of Real Estate. I couldn't be more pleased with Alan's services from start to finish. Alan was clear and concise. Alan's communication throughout the process was professional. I received the results I hoped for. Thank you Alan. I'll definitely recommend you to ALL and use your services again in the future shall I need anything!"
-Anonymous
"Very helpful in assisting in obtaining an OCCC Texas Motor Vehicle Sales Finance License. Very knowledgeable in answering all questions the OCCC asked for on their questionnaire. Highly recommended and would re-hire for any future assistance regarding motor vehicle and finance business. God Bless!"
-Raul
