Tag Archive: "Vermont"
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Vermont Revises Rules Regarding Non-Discrimination in Financial Services
by Robert Harrison, J.D.November 5, 2015 Vermont Reg. B-2015-01 implements 8 V.S.A. § 10403 which prohibits discrimination by financial service providers based on sex, marital status, race, color, religion, national origin, age, sexual orientation, gender identity, or handicapping condition.The revised rule focuses on the notice that is required when adverse action is taken by a […]
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Vermont Amends Consumer Protection Laws
By Paul McSheffrey, J.D.The state of Vermont has recently made changes to several consumer protection laws. Senate Bill 73 amends rules including rent-to-own agreements, financial literacy, and the Security Breach Notice Act. Rent-to-Own AgreementsSenate Bill 73 modified 9 V.S.A. § 41b regarding rent-to-own agreements of merchandise. This section provides definitions, limits, and requirements for rent-to-own […]
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Changes and Additions to Vermont’s Foreclosure Mediation Program
by: Emily Ross, Esq.With House Bill 431, the Vermont Legislature recently made changes to the Vermont mediation program established in 2010 to comply with the mediation requirement of HAMP. HAMP, or the Home Affordable Modification Program is a federal program set up as a result of the mortgage crisis that allows homeowners having trouble paying […]
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Vermont Issues Clarification for High Rate Loan Qualification
by: Emily Ross, Esq. The Vermont Department of Financial Regulation recently released a memorandum clarifying interest rates set for High Rate Loans for the 2013 calendar year. Vermont law states that any lender granting loans that charge borrowers in excess of four points or interest in excess of three percent over the declared interest […]