Vermont's regulator, now at the center of a bank-credit union scrap over the use of "bank" and "banking" in credit union advertising, last week set Aug. 22 as the date for a preliminary conference hearing on a proposed cease and 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.

• UPDATE, Oct. 8, 2012, Vermont Credit Union, Regulator Settle 'B' Word Dispute

Clifford Peterson, the DFR's general counsel, stressed that the initial Aug. 22 session is a precursor to the full cease and desist hearing in Montpelier, which he said will most likely be held a week after the preliminary conference.

On that score, a leader in Occupy Burlington, who was involved in a separate clash last June over representation on the board of the Vermont Federal Credit Union of Burlington, Vt., said its members intend to attend the hearing.