Sunday, October 7, 2012

Vermont CUs Can Use the Term Bank in Ads

On October 5, the Vermont Department of Financial Regulation ruled that a state chartered credit union can use the terms “bank” or “banking” or derivative terms or phrases in advertisements. However, a state chartered credit union is required to disclose that it is a credit union. The disclosure that a state chartered credit union is a credit union will be clear and conspicuous so that reasonable consumers can read, see or hear and understand the information.

To read the order, click here.
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