Banking Division

General Information

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.

Contact us at 1.888.568.4547 or DFR.BnkConsumer@state.vt.us

Consumer Advisory Regarding Data Breaches

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. Keep an eye out for any suspicious activity by routinely monitoring:

Your financial statements. Monitor your financial accounts and billing statements regularly, looking closely for charges you did not make.

Your credit reports. Credit reports contain information about you, including what accounts you have and how you pay your bills. The law requires each of the major nationwide consumer reporting agencies to provide you with a free copy of your credit report, at your request, once every 12 months.

To order your free annual report from one or all the national consumer reporting companies:

• visit www.annualcreditreport.com,
• call toll-free 877-322-8228, or
• complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

BEWARE of any emails warning of a security breach. Scammers will use fake warnings to collect personal information.  DO NOT click on any links contained in unsolicited emails.

National Foreclosure Settlement 

The Vermont Department of Banking, Insurance, Securities and Health Care Administration 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. To read more about the settlement and how it may provide relief for borrowers, click here

Financial Assistance for Flood Victims

Items of Interest...

• Information on Obtaining a Refund from Direct Air (4/12/2012)
• Banking Bulletin #34 Revised PACE Underwriting Standards (4/2/2012)
• Banking Bulletin #35 PACE Reserve Fund (1/25/2012)
• Declared Rate for VT High Rate/High Point Disclosure for 2012 (11/23/2011)
• Commissioner Kimbell's Statement Regarding Hurricane Irene (8/31/2011)
• Sponsorship Requirements for MLOs Employed by Loan Servicers (5/10/2011)
• New Rules About Credit Decision effective January 1, 2011 (1/18/2011)
• Declared Rate for VT High Rate/High Point Disclosure for 2011 (10/20/2010)
• New Credit Card Rules effective August 22, 2010 (8/25/2010)
• Final Rules Regarding Residential Mortgage Loan Originator Registration (8/10/2010)
• Legislation 2010 Summaries of Bills Affecting the Banking Division (7/16/2010)
• New Overdraft Rules for Debit and ATM Cards (7/16/2010)
• Modification of Deadline for SAFE Licensing of Loss Mitigation Employees (4/19/2010)
• New Rules for Gift Card (4/19/2010)
• New Credit Card Rules effective February 22, 2010  (3/11/2010)
• NMLS Consumer Access Launched (1/25/2010)
• Fraudulent Work-at-Home Funds Transfer Agent Schemes (10/29/2009)
• Modification of Transition Deadline for SAFE Implementation (9/28/2009)
• Reverse Mortgage Counselors Protocol for Approval (8/4/2009)
• Vermont's Implementation of the Federal SAFE Act (7/7/2009)
• Mortgage Modification&Foreclosure Rescue Scams (4/22/2009)