Tag Archive: "Vermont"
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Vermont Consolidates and Modernizes its Banking Provisions
Vermont has passed S.154 an act which provides for a multitude of miscellaneous modifications to its banking provisions. The purpose of the act is to consolidate and modernize the laws and regulations relating to non-depository licensing and compliance.
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Vermont Adopts Provisions Related to Residential Real Estate Mortgage Loan Commitment Letters
Vermont enacted provisions related to form, content, and timing of residential real estate mortgage loan commitment letters; Regulation B-2018-02 supersedes and replaces Regulation B-98-1.
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Vermont Modifies Provisions Regarding Consumer Protection, Also Enacts Provisions Regarding Uniform Law on Notarial Acts
Consumer Protection The state of Vermont modified its provisions relating to data security and consumer privacy through House Bill 764. This bill contains provisions dealing with the protection of personal information and the regulation of data brokers and data collectors. Title 9 V.S.A. § 2430 is amended with definitions to be used in in chapter […]
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Vermont Adopts Provisions Regarding Privacy of Consumer Financial and Health Information
The Vermont Department of Financial Regulation, Banking Division, adopted provisions relating to Regulation B-2018-01 regarding privacy of consumer financial and health information. This regulation replaces Regulation B-2015-02 and is effective immediately.
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Vermont Issues Declared Rate for 2018
The Vermont Commissioner of Taxes issued a memo regarding the average prime loan rate charged by banks for 2018. This rate is the basis for determining whether a loan is a high-rate/high-point loan.
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Vermont Enacts Provisions Regarding Home Loan Escrow Accounts
Through Senate Bill 136, the state of Vermont enacted provisions regarding home loan escrow accounts. This bill adopted miscellaneous consumer protection provisions. For the purpose of this article, we will focus on the amendments to home loan escrow account provisions that are effective July 1, 2017.
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Vermont Amendments to Provisions Regarding Licensed Lenders and Loan Servicers
The state of Vermont modified multiple provisions through House Bill 182 that includes amendments regarding licensed lenders and loan servicers. Provisions in this bill range from effective immediately to effective on July 1, 2017; unless noted otherwise, the amendments discussed in this article are effective immediately.
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Vermont Enacts Provisions Regarding Uniform Voidable Transactions Act
The state of Vermont enacted provisions through House Bill 35 regarding its Uniform Voidable Transactions Act. These provisions are effective on July 1, 2017.
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Vermont Enacts Provisions Regarding Revised Uniform Fiduciary Access to Digital Assets Act
Vermont House Bill 152 revises the Vermont Revised Uniform Fiduciary Access to Digital Assets Act by adding Sec. 1. 14 V.S.A. chapter 125. The act clarifies the law regarding access to digital assets in the case of death or incapacitation and grants fiduciaries access to a user’s online accounts, correspondences, and other computer files, if specified in his or her will, trust, or similar agreement. These provisions are effective on July 1, 2017.
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Vermont Releases Declared Average Prime Loan Rate for 2017
Vermont’s Commissioner of Taxes released a memorandum regarding the average prime loan rate charged by banks for 2017.