Vermont House Passes CUReform

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MONTPELIER, Vt. - (03/21/05) -- The House last week approved a billthat would allow Vermont's 32 state chartered credit unions tooffer member business loans for the first time. The bill would alsoallow state charters to branch interstate for the first time andwould clarify the parity, or wildcard, provision in the statuteallowing state charters to do anything that federally charteredcredit unions can do upon notification to the Department ofBanking, the chief credit union regulator. The measure now headsover the state Senate for its deliberations.

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