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Interpretive Letters - Loan and Protection Law

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 Loan Interest and Protection Law.
 
Section 201 - Maximum Lawful Interest Rate
 
06/26/97
Installment Sale of a Boat Trailer  (PDF)
An installment sale of a boat trailer is subject to the provisions of the Motor Vehicle Sales Finance Act and is specifically excluded from the provisions of the Goods and Services Installment Sales Act

Section 301-Residential Mortgage Interest Rates
 
06/26/97
Installment Sale of a Boat Trailer  (PDF)
An installment sale of a boat trailer is subject to the provisions of the Motor Vehicle Sales Finance Act and is specifically excluded from the provisions of the Goods and Services Installment Sales Act

 
Section 604-Effect on Inconsistent Acts
 
5/11/23
This letter states that the interest rate restrictions imposed by the Loan Interest and Protection Law do not apply to Pennsylvania state-chartered banks.