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Motor Vehicle


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.

 

News

11/13/2017  
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.

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.
 
Cybersecurity Update
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 This chapter repealed and replaced the Motor Vehicle Sales Finance Act.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.