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Financial Services Law Insights and Observations

Pennsylvania attorney general announces launch of consumer relief initiative

State Issues Covid-19 Pennsylvania Consumer Finance

State Issues

On March 30, Pennsylvania Attorney General Josh Shapiro announced the launch of “PA Care Package,” a consumer relief initiative.  The program, which will expand upon the federal CARES Act, calls for financial institutions and banks to offer assistance to Pennsylvanians facing financial hardship due to impacts of the Covid-19 pandemic. This includes expanding small and medium business loan availability, and offering grace periods for mortgage and loan payments, late fees, evictions and repossessions, and adverse credit reporting.