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Vermont Regulator Sets Prelim. Hearing Date, Names Hearing Officer of ‘Bank’ Case

Robert Simpson to hear VSECU 'banking' case.

By Jim Rubenstein | Updated on August 01, 2012

Vermont’s regulator, now at the center of a bank/credit union scrap over the use of “bank” and “banking” in credit union advertising, Wednesday set Aug. 22 as the date for a preliminary conference hearing on a proposed cease & desist order against the $600 million Vermont State Employees Credit Union.

Steve Kimbell, commissioner of banks and credit unions and head of the Vermont Department of Financial Regulation, named Robert Simpson, a retired Chittenden County State Attorney, as hearing officer for what is shaping up to be a contentious proceeding on the merits of an administrative action by the state to block the “bank” language. 

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