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Vermont stakeholders clash over the proposed H.385 bill, as banks voice concerns about potential fraud while advocates demand stronger protections for victims of coerced debt.

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#VT #DebtReform #CitizenPortal #VermontBanking #FinancialProtection #ElderAbuse
Banks urge caution on H.385; AARP and survivors press for protections
Banking groups warned the committee H.385 shifts investigatory burden to lenders and could create fraud and underwriting risks; AARP and survivors urged stronger access and nonjudgment exclusions, with survivor testimony describing over $20,000 in coerced debt.
citizenportal.ai
February 7, 2026 at 10:42 AM
citizenptnewsvt.bsky.social
Vermont bankers are advocating for creative collaborations over a standalone Green Bank, urging policymakers to leverage existing resources for quicker climate financing solutions.

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#VT #PublicPrivatePartnerships #ClimateFinancing #VermontBanking #CitizenPortal
Bankers urge informal partnerships rather than a standalone Green Bank; treasurer offers to run formal study
Vermont Bankers Association urged the committee to use existing institutions and informal convenings instead of creating a standalone Green Bank; Deputy Treasurer David Sher said the treasurer's office can perform a formal study with a one-time appropriation.
citizenportal.ai
January 31, 2026 at 4:14 PM
citizenptnewsvt.bsky.social
Vermont's H.648 could revolutionize bank governance by allowing boards to meet just four times a year, but will it compromise depositor protection?

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#VT #CommunityLending #RegulatoryReform #VermontBanking #FinancialGovernance #CitizenPortal
Committee reviews H.648 edits to bank governance and loan-approval rules
DFR staff told the House Commerce & Economic Development Committee that H.648 reduces routine board meeting frequency for banks, requires written loan policies to set board-approval thresholds (replacing a 10% capital rule), and clarifies loan-attribution tests and a corporate-group cap to ease lending for development projects.
citizenportal.ai
January 23, 2026 at 1:45 AM
citizenptnewsvt.bsky.social
The OCC warns that Illinois' complicated tax proposals could disrupt not only U.S. commerce but also the entire global payment system.

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#VT #CitizenPortal #GlobalPaymentSystems #FinancialRegulations #CommerceIssues #VermontBanking
OCC addresses state tax complications impacting US banking and global payment systems
OCC raises concerns over Illinois' state-by-state tax approach affecting US commerce and banking.
citizenportal.ai
April 6, 2025 at 3:48 AM