In Photoshop CS6, the engineering team added the ability to create Type styles to make working with text in Photoshop much more efficient. In Photoshop CC, they added additional functionality including the ability to set default Type styles. This video explains the details:
I thought it might be helpful to include a few additional notes to clarify what will happen (the default behavior) when working with default type styles in different scenarios:
• If you choose “Save Default Type Styles” from the Type menu, it will REPLACE your existing default type styles if they exist, or create them if they do not.
• After defining default type styles, every time you create a new document, those default type styles will be automatically loaded into the new document.
• If you open an existing document without any defined styles, Photoshop will automatically load the default type styles.
• If you open an existing document that HAS type styles defined, Photoshop will NOT load the default set. (You can choose to load them manually – see next bullet.)
• If you choose “Load Default Type Styles”, it will APPEND the default styles to any type styles already defined in the document. However, if there is a type style with the same name, it does not load that default type style.
• After loading the default styles in a document, they are saved with the document. If you later change the default styles, this will not update the styles in previous documents.
• If you need different sets of type styles for different projects/clients, you will need to define those type style sets in separate Photoshop files and then load the appropriate set each time you begin work for that project/client.
If you’re new to Type Styles, this video will quickly get you up to speed: