The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
Subchapter
005
:
BANK PRODUCTS; PROHIBITIONS
(Cite as: 8 V.S.A. § 10504)
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§ 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.)