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​INTERPRETIVE LETTERS - CREDIT SERVICES ACT

The Department of Banking and Securities uses interpretive letters to provide guidance and clarification of its position on an issue at the time. You should contact your attorney for legal advice regard the Credit Services Act - 73 P.S. § 2181 et seq.

Section 2 - Definitions
 
06/15/07
Registration Required
Letter states that registration as a loan broker required if home improvement contractor advertises or markets its ability to obtain third-party financing for a consumer, regardless of whether the contractor receives any compensation.
 
06/02/99
Brokering Automobile and Mortgage Loans
Letter states that non-employee insurance agents are required to be registered as loan brokers in order to broker automobile loans.
 
11/14/97
Internet Marketing Company Requirements
Letter states that Internet marketing company is required to register as a loan broker.
 
Section 8 - Restrictions on Loan Brokers
 
06/15/07
Registration Required
Letter states that registration as a loan broker required if home improvement contractor advertises or markets its ability to obtain third-party financing for a consumer, regardless of whether the contractor receives any compensation.
 
06/22/99
Brokering Automobile and Mortgage Loans
Letter states that non-employee insurance agents are required to be registered as loan brokers in order to broker automobile loans.
 
11/14/97
Internet Marketing Company Requirements
Letter states that Internet marketing company is required to register as a loan broker.