The Vermont Banking Division regulates and examines a variety of entities that include banks, credit unions, lenders, mortgage brokers, sales finance companies, debt adjusters, and money servicers. The Division also provides consumer assistance, education, and outreach to protect consumers from financial fraud.
Starting on April 16, 2012, the Vermont Banking Division will expand its use of the Nationwide Mortgage Licensing System & Registry (NMLS) to manage other non-depository financial service licenses. Through NMLS, companies will be able to apply for, amend, and renew license authority conveniently and safely online. For additional information on the expansion of NMLS, click here
The news has reported a number of instances in which businesses or governmental agencies have announced the unauthorized release of sensitive personal information, such as credit card account or social security numbers. Whether or not you suspect your personal information has been compromised, early detection can make a big difference.
The Vermont Department of Financial Regulation participated in an historic mortgage servicing settlement in response to significant and far-reaching problems discovered in the residential mortgage servicing industry. The $25 billion settlement is between 45 state regulatory agencies and the District of Columbia, 49 state attorneys general, a host of federal agencies, and the five largest mortgage servicing companies – Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc., and Ally Financial Inc.