Section 6348 – Interest rate after maturity
§ 6348. Interest rate after maturity. If a balance remains unpaid at the expiration of the scheduled maturity date of a closed-end credit agreement, the rate of the finance charge for the period beginning at the date of the maturity until payment in full may not exceed the rate of the finance charge under the […]
Section 6351 – Willful and intentional violations
§ 6351. Willful and intentional violations. A person who willfully and intentionally violates or directs or consents to the violation of a provision of this chapter commits a misdemeanor and shall, upon conviction, be sentenced to pay a fine of not more than $1,000 or to imprisonment for not more than one year, or both.
Section 6352 – Noncompliance; costs and charges
§ 6352. Noncompliance; costs and charges. (a) Bar to recovery.–If a seller fails to comply with the provisions of this chapter, the seller or holder who acquires a closed-end credit agreement or an open-end credit agreement with knowledge of the noncompliance is barred from recovery of the following costs and charges imposed in connection with […]
Section 6353 – Willful violations regarding finance charges
§ 6353. Willful violations regarding finance charges. (a) Penalty.–If a seller or holder willfully violates a provision of this chapter regarding the imposition, computation or disclosure of a finance charge on a consolidated total of two or more agreements under section 6329 (relating to add-on sales), the buyer may recover from the seller or holder […]
Section 6354 – Corrections
§ 6354. Corrections. (a) General rule.–Notwithstanding the provisions of this chapter and subject to subsection (b), a seller or holder may correct a failure to comply with a provision of this chapter in accordance with this section unless a willful violation has occurred. (b) Concurrence by buyer.–A correction that will increase the amount owed by […]
Section 6355 – Unfair trade practice
§ 6355. Unfair trade practice. A violation of any provision of this chapter shall be deemed to be a violation of the act of December 17, 1968 (P.L.1224, No.387), known as the Unfair Trade Practices and Consumer Protection Law.
Section 6322 – Contents
§ 6322. Contents. Except as provided in section 6329 (relating to add-on sales), a closed-end credit agreement shall contain all of the following: (1) One of the following headings at the top of the agreement or directly above the space reserved for the signature of the buyer: (i) “Security Agreement” if the seller retains a […]
Section 6346 – Costs from nonaffiliated entity
§ 6346. Costs from nonaffiliated entity. A closed-end credit agreement and an open-end credit agreement may provide for the reimbursement from a buyer of costs for a service provided by an entity that is not otherwise affiliated with the seller or holder if all the following conditions exist: (1) The buyer requests that the seller […]
Section 6323 – Copy of agreement
§ 6323. Copy of agreement. (a) Delivery of copy.–Except as provided in section 6324(b) (relating to agreement resulting from telephone or mail communications), a seller shall provide a legible and complete copy of a closed-end credit agreement to a buyer when the buyer executes the agreement. (b) Obligation of buyer.–Until the seller completes the obligation […]
Section 6347 – Extension and deferment
§ 6347. Extension and deferment. (a) General rule.–Upon agreement with the buyer, the holder of a closed-end credit agreement or an open-end credit agreement may extend the scheduled due date or defer the scheduled payment of all or part of an installment payable under the agreement. (b) Charges.– (1) A charge may not be made […]