What recourse is available to a consumer if the CSO is not registered or engages in fraudulent or deceptive practices?
The secretary of state does not have enforcement or regulatory powers and cannot take actions against CSOs. However, CSOs are governed by chapter 393 of the Finance Code. The Act provides for both criminal penalties and injunctive relief for violations of the Act. In addition, a violation of the Act is considered to be a deceptive trade practice which gives the Texas attorney general authority to take action in the public interest. Contact the attorney general online or by calling 1-800-621-0508. You may also report any problems that you have with a CSO to the Federal Trade Commission. The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. Complaints with the FTC may be filed online or by calling 1-877-382-4357. Consumers may also wish to file a complaint with the Better Business Bureau.
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