A consumer discount company in Pennsylvania wants to open a new branch office. Under the CDCA, what must the company do?
Correct Answer
B) Obtain a separate license for each branch office location
Under the CDCA, each branch office of a consumer discount company must be separately licensed by the Department of Banking and Securities. Operating an unlicensed branch is a violation of the Act.
Why This Is the Correct Answer
Under the CDCA, each branch office of a consumer discount company must be separately licensed by the Department of Banking and Securities. Operating an unlicensed branch is a violation of the Act.
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Under the NJ Fair Foreclosure Act, a borrower in foreclosure has the right to cure the default and reinstate the loan. Until what point in the process can the borrower exercise this right?
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