Regulatory Alerts2024-09-05
Pennsylvania Department of Banking and Securities Suspension Order Against Speed Auto, LLC
The Pennsylvania Department of Banking and Securities issued a Suspension Order against Speed Auto, LLC, mandating the suspension of its Installment Seller license due to the entity's failure to pay examination fees and penalties totaling $703.99. The order further imposes a $2,000 civil penalty for violating the Consumer Credit Code by ignoring lawful demands for payment. Speed Auto must remit the full outstanding balance to lift the suspension, which becomes effective 30 days after the order's signing date.
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