Chapter 1301:8-10 Rules Relating to Credit Counseling Services

1301:8-10-01 Criteria for qualifying to provide consumer credit counseling services.

(A) Credit counseling services meeting the following criteria are authorized by the superintendent of financial institutions to provide prepurchase counseling to consumers as may be required by section 1349.27 of the Revised Code:

(1) Credit counseling services approved by the United States department of housing and urban development to assist borrowers in understanding and obtaining "FHA" or "VA" loans, provided it does not directly or indirectly through any affiliate make or broker such loans; or

(2) Any not-for-profit credit counseling service approved by an agency of the federal government.

(B) All authorized credit counseling servicers shall register and maintain registration to conduct business in Ohio with the Ohio secretary of state and shall comply with any applicable requirement of sections 4712.01 to 4712.14 of the Revised Code (the "Credit Service Organization Act") and sections 4710.01 to 4710.04 of the Revised Code (the "Debt Adjuster Act"). Notwithstanding the foregoing, nothing herein shall affect the authority of a court in this state from enjoining a person or entity from providing these services where such remedy is appropriate under law or equity.

Effective: 06/01/2007
R.C. 119.032 review dates: 11/15/2011
Promulgated Under: 119.03
Statutory Authority: 1349.36
Rule Amplifies: 1349.27 , 1349.271

1301:8-10-02 Electronic database.

For purposes of division (C) of section 1349.43 of the Revised Code, the list submitted by the attorney general to the department of commerce of all enforcement actions and judgments described in divisions (B)(2) and (B)(3) of section 1349.43 of the Revised Code shall:

(A) Include copies of the enforcement actions taken by the attorney general under Chapter 1345. of the Revised Code against loan officers, mortgage brokers, and non-bank mortgage lenders, upon final disposition of each action;

(B) Include copies of all judgments and supporting opinions by courts of this state, for which appellate remedies have been exhausted or lost by expiration of the time of appeal, that find that specific acts or practices by a loan officer, mortgage broker, or non-bank mortgage lender violate section 1345.02 , 1345.03 , or 1345.031 of the Revised Code;

(C) Be submitted the first day of each January, April, July, and October; and

(D) Include enforcement actions and judgments from the immediately preceding three months.

The records required herein may be submitted in an electronic image format acceptable to and as agreed by the superintendent and the attorney general to an email address designated by the division of financial institutions.

Effective: 06/01/2007
R.C. 119.032 review dates: 11/15/2011
Promulgated Under: 119.03
Statutory Authority: 1349.36
Rule Amplifies: 1349.43