§ 6152. Relationship to other laws.
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/pa/title-7/chapter-61/6152A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 6152. Relationship to other laws.
The following apply:
(1)A political subdivision may not enact or enforce any ordinance, resolution or regulation pertaining to the financial or lending activities of a person that:
(i)is subject to the jurisdiction of the department, including activities subject to this chapter;
(ii)is subject to the jurisdiction or regulatory supervision of the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the National Credit Union Administration, the Federal Deposit Insurance Corporation, the Federal Trade Commission or the United States Department of Housing and Urban Development; or
(iii)originates, purchases, sells, assigns, securitizes or services any property interest or obligation created by a financial transaction or loan made, executed or originated by a person referred to in subparagraph
(i)or
(ii)or assists or facilitates such a transaction or loan.
(2)This section applies to any ordinance, resolution or regulation pertaining to financial or lending activity, including any ordinance, resolution or regulation:
(i)disqualifying a person from doing business with a political subdivision based upon financial or lending activity; or
(ii)imposing reporting requirements or any other obligations upon a person regarding financial or lending activity.
07c6153s