Best Mortgage in Pennsylvania
Home purchase loans, refinancing, and home equity products from top mortgage lenders. In Pennsylvania, personal loans are capped at 24% APR for licensed consumer lenders, overseen by the Pennsylvania Department of Banking and Securities.
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Pennsylvania Lending Laws
Pennsylvania's Consumer Discount Company Act limits licensed consumer lenders to 24% APR, and the Supreme Court of Pennsylvania has ruled that unlicensed internet payday lending violates state usury law.
The primary regulator for consumer lending in Pennsylvania is the Pennsylvania Department of Banking and Securities. Borrowers with complaints about a lender can file reports directly with that agency or with the federal Consumer Financial Protection Bureau (CFPB).