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An Oct. 5 settlement arising out of the showdown between the $600 million Vermont State Employees Credit Union and its state regulator over use of the word “bank” in advertising leans in the credit union’s favor.
Vermont regulator says settlement requires clarity in marketing, that message is from credit unions.
Settlement allows for form of the word.
I read in the issue Aug. 22 issue the letter, “Call for ‘Bank’ Entries,” [page 14] that Gregg Stockdale from 1st Valley initiated. I am in total agreement and have been for years.
When it comes to auto loan portfolio acquisitions, some might see credit unions as the equivalent of little fish being circled in waters full of sharks–banks and other lenders.
Settlement talks ordered on "narrowing or eliminating the issues that separate" Vermont State Employees Credit Union, state over use of "bank", "banking" in marketing.