A motor vehicle sales finance company (MVSF) is a person or business entity engaged in the business of extending consumer credit in conjunction with the installment sale of motor vehicles, including the reposession of autos.
Secretary's Letter on Cybersecurity
Changes to FBI fingerprint criminal background
The Department continues to work collaboratively with federal regulators, other states financial regulators, and other Commonwealth agencies to address cybersecurity challenges.
Licensees who are required to provide
their fingerprints to complete a federal criminal background check should be
aware that this service will be provided by a new supplier. Idemia (formerly
MorphoTrust USA, LLC), will take over the fingerprinting services contract
formerly held by Gemalto (formerly Cogent).
Licensees who are not registered and
fingerprinted before November 18, must wait until November 28 to receive those
services through the new provider. The only exceptions that will be made during
that time frame will be for individuals who have an issue with a fingerprint
taken prior to November 18, and will be reprinted by November 27. Those
individuals who do not get their reprint by November 27 will need to
re-register with the new provider and will have 90 days to get their reprint at
Federal Government Principles on Responding to Cyber Incidents
A Presidential Policy Directive (PPD-41) released on July 26, 2016, sets forth principles governing the federal government’s response to any cyber incident, whether involving government or private sector entities. For significant cyber incidents, PPD-41 also establishes lead federal agencies and an architecture for coordinating the broader federal government response. Learn more: http://bit.ly/2aeAUtZ
The Federal Financial Institutions Examination Council (FFIEC) members have issued a revised Management booklet, which is part of the FFIEC Information Technology Examination Handbook (IT Handbook). The IT Handbook is available here.
On December 1, 2014, Act 98 of 2013, which created a codified Consumer Credit Code
, became effective. Contained within the Consumer Credit Code is an updated, modernized and consolidated Chapter 62 that governs motor vehicle sales finance. This chapter repealed and replaced the Motor Vehicle Sales Finance Act. Please note that this change in law will not alter license renewals.