Loans
Home Improvement Consumer Protection Act Takes Effect July 1
The Home Improvement Consumer Protection Act, signed by Gov. Ed Rendell last October, goes into effect today, and requires home improvement contractors who do $5,000 or more in home improvements or repairs in a year to register with the Bureau of Consumer Protection.
They must also maintain minimum insurance coverage — at least $50,000 in property damage and personal injury liability — and use contracts that contain specific information about their job, including start and completion dates, a complete description of the work, and consumers’ rights under the law.
The registration cost for contractors, which is valid for two years, is $50. Contractors will have to use their registration number on contracts, estimates, proposals, and advertisements.
Beginning today, state consumers will be able to verify a contractor’s registration number at www.attorneygeneral.gov, or by calling 1-888-520-6680.
VEHICLE DISCOUNTS FOR MEMBERS
CLEAN AND GREEN VEHICLE LOAN SPECIAL
Save .50% APR on 2006 and newer vehicle loans (including motorcycles) if the vehicle has an EPA Fuel Economy estimate of 25 highway miles per gallon or more. Valid on new loans only.
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Contact the Loan Department for more information on these specials. Discounts do not apply on mortgages.
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