§ 10501. Basic banking It is the public policy of this State to promote the economic viability and prosperity of its residents and to promote, attract, and encourage savings. The General Assembly finds and declares that access to basic banking services for basic depository transactions is necessary for the payment of monthly expenses and for […]
§ 10502. Definitions relating to basic banking As used in sections 10501 through 10504 of this title, the following terms shall have the following meanings: (1) “Basic checking account” means a deposit account on which the consumer is permitted to make payments or transfers by check, money order, or other negotiable instruments and which is […]
§ 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 […]
§ 10505. Returned check charges No depository institution or credit union shall assess a returned check charge or similar charge against a depositor for the costs of processing a check received by that depositor and returned for nonsufficient funds by the institution upon which it was drawn. (Added 1999, No. 153 (Adj. Sess.), § 2, […]
§ 10506. Unsolicited distribution of cash advance contracts and notes No person shall distribute by mail, or in any other manner, to a Vermont resident, an unsolicited cash advance contract or note in furtherance of that contract. A person who violates this section shall also be subject to the provisions of subchapter 6 of chapter […]
