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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | June 23, 2023 09:13 AM |
|---|---|
| From: | Representative Abigail Salisbury and Rep. Tim Twardzik |
| To: | All House members |
| Subject: | Permitting state licensees in the sales finance industry to work remotely |
| Technology has changed the business landscape for numerous industries. Many individuals now are becoming accustomed to logging onto their computers to handle a variety of financial obligations. Businesses have continued to step up to the plate with advanced technology to protect and safeguard these transactions and staff training. For businesses, there has been a shift, accelerated by the recent COVID-19 pandemic, to allow their employees to work remotely. This legislation will permit employees whose employers are licensed under the Consumer Discount Company Act and the Pennsylvania Motor Vehicle Sales Finance Act to work from an off-site location. These licensees were among those deemed essential lenders by the Governor during the pandemic and who then were granted permission to work remotely under now-expired waivers. Allowing continued remote work will not only assist consumers if a branch location must close because of weather, construction or a disaster, but also will assist these businesses with workforce readiness and retention. With the use of technology and training in place, consumers will have the exact same experience with the financial institution employee working from home as in a commercial office. For the business, the ability to offer remote working opportunities provides more flexibility in employment practices. This legislation does not change any requirements pertaining to licensing, examination or regulation by the Department of Banking and Securities. We hope that you will join us in supporting this legislation. |
Introduced as HB1580