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Secretary’s Letters are not intended as and do not constitute legal advice.  Please keep in mind that these letters contain generalizations regarding the applicable law discussed herein and are therefore not inclusive of all of the law’s provisions, conditions, exceptions, and details.  It is critically important for you to read the applicable law and seek guidance from your legal counsel regarding the effects of the law on your business operations. NOTE: most links on this page are to PDF documents.

Secretary's Letter on Cybersecurity (PDF)
The Department continues to work collaboratively with federal regulators, other states financial regulators, and other Commonwealth agencies to address cybersecurity challenges.

Updated Motor Vehicle Sales Finance Act (PDF)
On December 1, 2014, Act 98 of 2013 (the “Act”), which created a codified Consumer Credit Code, will become effective. Contained within the Consumer Credit Code is an updated, modernized and consolidated Chapter 62 that governs motor vehicle sales finance (“MVSF”). This chapter repeals and replaces the existing Motor Vehicle Sales Finance Act (“MVSFA”) on December 1, 2014.
Manufactured Homes Installment Sellers (PDF)
The Deputy Secretary's Letter provides information regarding House Bill  2547, which was signed into law by the Governor on November 23, 2010 and amends the Pennsylvania’s Mortgage Licensing Act, 7 Pa. § 6101 et seq.
Mortgage Reform Laws (PDF)
Provides detailed explanation of three bills signed into law by Governor Edward G. Rendell on July 8, 2008: Act 56 of 2008, House Bill 2179 (P.N. 4020), the new consolidated mortgage licensing bill (the “Mortgage Act”), Act 57 of 2008, Senate Bill 483 (P.N. 2163), which amends the Loan Interest and Protection Law (the “LIPL”), and Act 58 of 2008, Senate Bill 484 (P.N. 2251), which amends the Department of Banking Code (the “DOB Code”). 
Installment Sales  (PDF)
Secretary’s Letter addresses terms and conditions of "selective first payment due date" options and "deferred first payment" options that may be offered to buyers as part of installment sale contracts under the MVSFA.
Computation of Finance Charge (PDF)
Secretary’s Letter discusses methods of computation of finance charge under MVSFA.