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Can you summarize VTCR Agency 21, SubAgency 010?
DEPARTMENT OF FINANCIAL REGULATION > BANKING DIVISION
Short Summary
The provided legal document content covers various aspects of the regulation and governance of entities under the jurisdiction of the Department of Financial Regulation’s Banking Division in Vermont. It includes regulations on the privacy of consumer financial and health information, record retention requirements for financial institutions, credit unions, independent trust companies, and state licensed financial businesses, requirements for secured credit cards, fidelity bond requirements for credit unions, designation of credit unions as community development credit unions, management and investment of fixed assets by state-chartered credit unions, licensing and regulation of Mortgage Brokers, definition of ‘household member’ for credit union membership, form, content, and timing of residential real estate mortgage loan commitment letters, requirements for high rate, high point notices for residential real estate loans, process of converting a federal credit union into a state-chartered credit union, non-discrimination in financial services, regulation of credit union member business loans, and disclosure form for motor vehicle retail installment contracts. The documents apply to specific entities and individuals involved in the respective areas of regulation. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Entities regulated by the Department of Financial Regulation's Banking Division in the state of Vermont, financial institutions, credit unions, independent trust companies, state licensed financial businesses, individuals holding a Mortgage Broker license, credit unions, lenders and borrowers involved in residential real estate mortgage loan transactions, lenders issuing motor vehicle retail installment contracts
What does it govern?
Privacy of consumer financial and health information, record retention requirements for financial institutions, credit unions, independent trust companies, and state licensed financial businesses, requirements for secured credit cards, requirements for credit unions to acquire and maintain a blanket fidelity bond, designation of credit unions as community development credit unions, management and investment of fixed assets by state-chartered credit unions, licensing and regulation of Mortgage Brokers, definition of 'household member' for credit union membership, form, content, and timing of residential real estate mortgage loan commitment letters, requirements for high rate, high point notices for residential real estate loans, process of converting a federal credit union into a state-chartered credit union, non-discrimination in financial services, regulation of credit union member business loans, disclosure form for motor vehicle retail installment contracts
What are exemptions?
The documents do not mention any specific exemptions.
What are the Penalties?
The documents do not specify any specific penalties for non-compliance or violation of their provisions.
Jurisdiction
Vermont