PA Updates Inflation-Adjusted Definition of “Base Figure” for 2018

The Pennsylvania Department of Banking and Securities (the Department) updated its definition of “base figure” in the Loan Interest and Protection Law to account for adjustments due to inflation for the 2018 calendar year.  The Department has determined that the current base figure of $244,856 adjusted for annual inflation using the “Consumer Price Index—All Urban Consumers: U.S. All Items 1982—84 = 100” published by the United States Department of Labor Bureau of Labor Statistics results in a base figure of $250,324.

The new base figure of $250,324 will be effective January 1, 2018, for the calendar year of 2018.

The notice for this adjustment is available here.