§ 6275. Liability of sales finance company.
(a) Exemption from liability.--A sales finance company licensed under this chapter and engaged in the purchase, sale, assignment, securitization or servicing of installment sale contracts may not be held liable under this chapter for either of the following:
(1) Excessive markups of charges by installment sellers.
(2) A failure to disclose under section 6221(e) (relating to requirements).
(b) Federal status preserved.--This section does not affect the liability of a sales finance company that is a holder under the Federal Trade Commission Act (38 Stat. 717, 15 U.S.C. § 41 et seq.).
Section: Previous 6254 6255 6256 6257 6258 6259 6260 6261 6262 6271 6272 6273 6274 6275Last modified: October 8, 2016