A South Carolina credit union has asked Vermont regulators not to include the "Every Day is Bank Transfer Day" brand in the ongoing fray over use of the words "bank" and "banking" in the New England state.
An attorney for the $1.3 billion South Carolina Federal Credit Union in North Charleston, S.C., said Monday that he spoke with a Vermont regulator who told him that any legal opinion on the matter would have to come from Steven Kimbell, commissioner of the state's Department of Financial Regulation.
Kimbell is planning to hear arguments later this month on his proposed bank-backed cease-and-desist order that would stop the $600 million Vermont State Employees Credit Union from using the words "bank" and "banking" in its marketing.
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