The opinion of the court was delivered by: GILES
1. American Future Systems, Inc. (hereinafter "AFS") is a corporation organized under the laws of the Commonwealth of Pennsylvania with its principal office located at 715 Lancaster Avenue, Bryn Mawr, PA. AFS was incorporated on March 28, 1973.
2. AFS is engaged in the business of selling china, cookware, crystal and tableware and of extending credit to persons who purchase AFS' wares.
3. For each year since its incorporation AFS cash sales have constituted less than 5% of the corporation's sales; the remaining sales are made on credit.
4. AFS is a creditor subject to the provisions of the ECOA.
5. AFS does business in the Eastern District of Pennsylvania.
6. Edward M. Satell is the President, chief executive officer, and principal shareholder of AFS and has held those positions since the incorporation of AFS in 1973.
7. Between 1959 and the incorporation of AFS in 1973, Edward M. Satell was the President of American Foresight Company, a company similar in nature to AFS that was established by Mr. Satell in 1959.
8. Edward Satell resides in the Eastern District of Pennsylvania.
9. Edward Satell is a creditor subject to the provisions of the Equal Credit Opportunity Act, ...