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Commerce Division of Financial Institutions  
 

CREDIT SERVICE ORGANIZATIONS

The Division of Financial Institutions, along with the Ohio Attorney General’s Office, regulates credit services organizations pursuant to Chapter 4712 of the Ohio Revised Code.

• Forms

• Registration

A Credit Service Organization is any person that in return for the payment of money or other valuable consideration readily convertible into money for the following services, sells, provides, or performs, or represents that the person can or will sell, provide, or perform one or more of the following services:

1) Improving a buyer’s credit record, history or rating;

2) Obtaining an extension of credit by others for a buyer;

3) Providing advice or assistance to a buyer in connection with the above;

4) Removing adverse credit information that is accurate and not obsolete from the buyer’s credit record, history or rating;

5) Altering the buyer’s identification to prevent the display of the buyer’s credit records, history or rating.

No person shall engage in this activity without first obtaining a certificate of registration from the Ohio Division of Financial Institutions.

Instructions and the forms required to apply for a certificate of registration can be obtained at (insert link). The Division will investigate the applicant to determine they meet all the statutory requirements for registration under the act.

Certificates of registration must be renewed annually. If an office is to be relocated, the registrant must obtain a new certificate of registration from the Division prior to conducting business at the new location.

• Compliance

Registrants and licensees are responsible for understanding and complying with the applicable statutes. The Division will periodically examine registrants for compliance with Ohio law and has the power to issue subpoenas in the process of conducting examinations and investigations.

In addition, the Division may deny applications for registration, revoke, suspend, or refuse to renew certificates of registration, or impose fines against registrants and licensees pursuant to the Ohio Administrative Procedures Act, Chapter 119 of the Ohio Revised Code.

Questions regarding the industries regulated by Consumer Finance may be e-mailed to: webdfi-cf@com.state.oh.us