State-Chartered Bank & Trust Companies

9/5/2014
2015 Bank Holidays

7/30/14
Banks, Bank and Trust Companies and Savings Banks Assessment
A letter from the Secretary of Banking and Securities announcing the Department’s regulation regarding the semiannual assessments on banks, bank and trust companies and savings banks that will replace the existing assessment schedule.

1/8/2014
Consumer Equity Protection Act (the CEPA), changes in federal law 
Deputy Secretary’s Letter announces changes to coverage of the Consumer Equity Protection Act as a result of changes in federal law.


9/18/2013
2014 Bank Holidays

11/14/2012
Banking Law Modernization Package
A letter from the Secretary of Banking and Securities regarding passage of Act 170, Act 171 and Act 172 of 2012, which update and modernize three banking statutes.

9/14/2012
2013 Bank Holidays


7/21/11
Changes in the Manner Entities May Institute Mortgage Foreclosures
A letter from the Secretary of Banking and Executive Director of the PA Housing Finance Agency regarding the transition from the Act 91 Notice to the Act 6 Notice.

1/27/11
Small Business Lending Fund
Deputy Secretary’s letter addresses issues regarding and provides guidance on the Small Business Lending Fund, established by the U.S. Department of the Treasury.

08/05/09
SAFE Act Legislation

The letter provides information regarding Act 31 of 2009, House Bill 1654 (P.N. 2448), which amends Pennsylvania’s existing mortgage industry licensing law, 7 Pa.C.S. Chapter 61, in order to implement the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “SAFE Act”), 12 U.S.C. § 5101 et seq. 

05/29/09
Potential Budget Impasse
Secretary's letter asking banking institutions to show flexibility and understanding toward state employees whose incomes may be temporarily disrupted as the result of a potential budget impasse. 

04/24/09
Confidentiality Provisions of the Department of Banking Code

Discusses confidentiality provisions of the Department of Banking Code related to examination reports and enforcement proceedings. 

10/31/08
Capital Purchase Program Participation
Secretary's Letter addresses questions regarding the ability of state-chartered banks, bank and trust companies and stock savings banks to participate in the United States Treasury's Capital Purchase Program in light of certain requirements contained in the Banking Code of 1965. 

10/27/08
Capital Purchase Program and Temporary Liquidity Guarantee Program

Secretary's Letter regarding recently announced programs by the U.S. Treasury and FDIC to enhance the strength of financial institutions, foster market liquidity and promote market stability. 
 
07/11/08
Mortgage Reform Laws

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”). 

12/10/07
Heating Oil Dealers
Secretary's Letter asking financial institutions to work to meet the credit needs of Pennsylvania heating oil dealers during the 2007-2008 winter season. 

09/14/07
Annual Audit of Trusts

Deputy Secretary’s letter addresses acceptable means by which the required annual audit of trust activities of trust companies, bank and trust companies, and savings banks and savings associations that exercise trust powers may be accomplished, as required by Section 1407 of the Banking Code. 

04/06/07
Honoring Pennsylvania’s Holocaust Survivors

Acting Secretary Victoria A. Reider sent a letter to chief executive officers of financial institutions across the state urging them to voluntarily waive fees for 456 Pennsylvanians who will receive cash settlements as a result of work by the International Commission on Holocaust Era Insurance Claims.

02/01/07
Volunteer Income Tax Assistance

The Pennsylvania Department of Banking joins with the Federal Deposit Insurance Corporation in urging you to consider ways that your institution might choose to participate in the IRS’ Volunteer Income Tax Assistance (VITA) program.

01/10/07
Optional Holiday in Recognition of Veteran's Day
Letter announces that Pennsylvania state banking institutions and Pennsylvania national banks are hereby permitted to observe Monday, November 12, 2007, as an optional legal holiday in recognition of Veteran's Day.

04/13/05
Overdraft Protection Programs

Secretary's Letter states that overdraft protection programs are permissible for state-chartered depository institutions and provides guidelines for such programs.

09/30/04
Trust Powers

Pennsylvania state-chartered trust companies, bank and trust companies, and savings banks and savings associations with trust powers may engage in fiduciary activities to the same extent as national banks without notice to the Department.

08/03/04
Improperly Influenced Appraisals
The Secretary's Letter informs all lenders and brokers under the jurisdiction of the Department of the Department's concerns related to the use of improperly influenced appraisals.  Letter also addresses "builder exception" under the Mortgage Bankers and Brokers and Consumer Equity Protection Act.

04/01/03
Payday Lending Activities

The Secretary's Letter discusses state-charted banks engaging in payday lending activities.

03/26/03
Streamlined Call Report
The Secretary's Letter discusses the Streamlined Call Report filing requirements.

09/23/02
Act 55 of 2001-Covered Loan Changes

The Secretary's Letter discusses that the Act 55 of 2001 definition of "Covered Loan" changes effective October 1, 2002; and that “Median Family Income” statistical estimates necessary for lenders to calculate (a) repayment ability of potential obligor under Section 512(b), and (b) whether negative amortization terms may be imposed on a potential obligor under Section 511(c), are now stated in the convenient chart attached to the letter.

12/21/01
Direct Motor Vehicle Loans

This letter is to set forth in writing the Pennsylvania Department of Banking (the "Department") position on issues related to the ability of a Pennsylvania state-chartered bank, bank and trust company, or savings bank ("PA Bank") under Section 322 of the Banking Code of 1965 ("Section 322"). 7 P.S. § 322.

10/19/01
Executive Order Blocking Property and Prohibiting Transactions
Secretary's Letter regarding President Bush's Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism.

08/17/01
Act 55 of 2001

Secretary's letter to announce Act 55 of 2001, the Mortgage Bankers and Consumer Equity Protection Act.  A summary of Act 55 is attached to the Secretary's letter.

01/04/01
Optional Legal Holiday in Recognition of Veteran's Day
Letter announces that Pennsylvania state banking institutions and Pennsylvania national banks are hereby permitted to observe Monday, November 12, 2001, as an optional legal holiday in recognition of Veteran's Day.

11/29/00
Act 89 of 2000, the Bank Parity Bill

Governor Ridge signed into law, as Act 89 of 2000, the Bank Parity Bill, HB 2533 of 2000 (P.N. 4073).

03/30/00
Establish and Operate Messenger Service Branches

PA State-Chartered Banks, Bank and Trust Companies and Savings Banks May Establish and Operate Messenger Service Branches.

03/23/00
Loans to Directors - Section 1414
Loans to Directors & Section 1414 - March 23, 2000.

01/18/00
General Position on Internet Banking

Department's General Position on Internet Banking.

05/26/99
Loans to Executive Officers & Section 1414

06/09/97
Electronic Submission of Call Reports

01/31/97
Revised Uniform Financial Institutions Rating System

12/03/96
Agents in the Sale of Property, Casualty, Life Insurance
The Department of Banking advised that Pennsylvania state-chartered banks, bank and trust companies and savings banks may act as agents in the sale of property and casualty, life, or other types of insurance provided the bank is located in any place the population which does not exceed 5,000 inhabitants.

04/16/96
Sale of Annuities as a Power Incidental

The Department has determined that Pennsylvania state-chartered banks, bank and trust companies, and savings banks may engage in the sale of annuities as a power incidental to the banking business, directly or indirectly through a subsidiary.