§ 10501 - Basic banking - Vermont Statutes

§ 10501. Basic banking

It is the public policy of this state to promote the economic viability and prosperity of its residents and to promote, attract and encourage savings. The legislature finds and declares that access to basic banking services for basic depository transactions is necessary for the payment of monthly expenses and for the encouragement of thrift by Vermont consumers. The legislature further finds and declares that reasonable cost basic banking services promote savings on the part of young, elderly and low income consumers, and provides, through means of payment by check, draft, negotiable order of withdrawal, or similar instrument, a viable alternative for cash transactions which is essential to all Vermont consumers. Therefore, it is the purpose of this chapter to ensure that basic banking services remain available to all Vermont consumers. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)