The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 200 : Consumer Protection
Subchapter 005 : Bank Products; Prohibitions
(Cite as: 8 V.S.A. § 10504)-
§ 10504. Basic banking rules
The Commissioner may adopt rules to require financial institutions with their principal place of business in this State to offer basic checking and savings accounts if the Commissioner finds a material deterioration in the availability and cost of basic checking and savings account services in the results of any two consecutive surveys. The rule adopted by the Commissioner under this section shall ensure that any required basic banking will not impair the safety and soundness of any affected financial institution and that any such rules shall not adversely affect other consumers of banking services. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2021, No. 105 (Adj. Sess.), § 282, eff. July 1, 2022.)
