Livingston v. Vanguard Federal Savings Bank

DEL SOLE, Judge:

Mr. and Mrs. Livingston, as representatives of a class, have taken this appeal from a trial court order sustaining the preliminary objections filed by Vanguard Federal Savings Bank. In so ruling the trial court dismissed Appellants’ complaint which alleged that Vanguard’s method of computing interest on prepayments made on mobile home loans was not permitted by Pennsylvania law under 69 Pa.S.A. § 623 G.5. The trial court accepted Vanguard’s position that the Pennsylvania statute, which prohibits the imposition of prepayment penalties on mobile home installment contracts, was…