Proposed Rules and Regulations

Regulation B-2015-02 - Privacy of Consumer Financial and Health Information Regulation

The Department proposes to make the following changes to Regulation B-2001-01:  
  1. Provide some guidance on how entities can use the Federal Model Privacy Form in a manner that is consistent with Vermont’s opt-in requirement. 
  2. Allow an alternative method for providing annual privacy notices, similar to the method in the federal privacy regulation.  A financial institution that: (a) does not disclose nonpublic personal information; (b) has not changed its privacy notice; and (c) uses the Federal Model Privacy Form in a manner consistent with the revised regulation, may satisfy the annual notice requirement by: (i) notifying customers that its privacy notice is available on its web site; (ii) notifying customers that its privacy notice has not changed; and (iii) mailing a copy of the current privacy notice to those customer that request it. 
  3. Update the name of the Department and correcting statutory references.
The date for the public hearing has not been set.
The deadline for the comment period has not been set.  Please contact Sue Clark,, 802-828-3307, with questions.

B-2015-01 Non-discrimination in financial services

This proposed regulation supercedes and replaces Regulation B-2014-03.  It implements 8 V.S.A., Section 10403 (formerly 8 V.S.A. Section 1211(b)) which codifies prohibited bases of discrimination.  The regulation was amended in 2014 to bring it into conformity with the statute.  The regulation is now being amended to update references to federal law and to clarify the scope of the regulation for regulated entities.

A public hearing is scheduled at 10:00 a.m. on Wednesday, July 29, 2015 at the Department of Financial Regulation, 89 Main Street, Montpelier, VT, 3rd Floor Large Conference Room.  

Deadline for public comment is August 7, 2015.  Please contact Karla Nuissl at 802-828-2963 with any questions or 

Full text of proposed regulation