Consumer Discount Company Act - 7 P.S. § 6201 et seq.

Section 6202 - Definitions

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

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Section 6203 - License Required

07/28/08
Internet and Out-of-State Consumer Lending
The Department's position is that any company that engages in non-mortgage consumer lending to Pennsylvania residents by any means, including via the Internet or by mail, in which the aggregate interest, discount, bonus, fees, fines commissions, charges or other considerations exceed 6% simple interest per annum is required to obtain a license from the Department under the CDCA.  

09/18/03
Sale of CDCA Loans and Junior-lien Loans
Letter addresses sale of CDCA loans and states that SMLA does not apply to junior-lien loans made under the CDCA.

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

06/26/97
Installment Sale of a Boat Trailer
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.

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Section 6204- Application for License
 

12/18/08
Office Locationa and Domestic Organization Letter
Letter addresses issues of office location in PA and requirement to be a domestic business corporation under CDCA.

06/26/97
Installment Sale of a Boat Trailer
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.

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

____________________________________________________________________________


Section 6212 -Authority of the Secretary of Banking

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

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Section 6213 - Powers Conferred on Licensees

11/06/03
Licensee May Sell First Mortgage Loans Made Under the MBBCEPA
Letter states that CDCA licensee may sell first mortgage loans made under the MBBCEPA to an unlicensed entity.

09/18/03
Addresses Sale of CDCA Loans and Junior-lien Loans
Letter addresses sale of CDCA loans and states that SMLA does not apply to junior-lien loans made under the CDCA.

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

____________________________________________________________________________


Section 6214 - License Requirements and Limitations

01/12/04
Sale of CDCA Loans to Non-licensed Entity
Letter approves the sale of CDCA loans to non-licensed entity.

09/18/03
Addresses Sale of CDCA Loans and Junior-lien Loans
Letter addresses sale of CDCA loans and states that SMLA does not apply to junior-lien loans made under the CDCA.

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

____________________________________________________________________________


Section 6215 - Statement of Contract

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

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Section 6217 - Scope of Act

11/19/01
CDCA Issues 
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.

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Section 6218 - Penalties

11/19/01
CDCA Issues
Letter addresses several issues under the CDCA, including scope of the CDCA, in-state office requirement, and eligibility for licensure, sale/assignment of contracts, and calculation of interest rate.