Vermont § 2127 - Networked supervision

§ 2127. Networked supervision

• (a) To efficiently and effectively administer and enforce this chapter and to minimize
  regulatory burden, the Commissioner is authorized and encouraged to participate in
  multistate supervisory processes established between states and coordinated through
  the Conference of State Bank Supervisors, Money Transmitter Regulators Association,
  and affiliates and successors thereof, for all licensees that hold licenses in Vermont
  and in other states. As a participant in multistate supervision, the Commissioner
  may: (1) cooperate, coordinate, and share information with other state and federal regulators
  in accordance with section 22 of this title and section 2126 of this chapter; (2) enter into written cooperation, coordination, or information-sharing contracts or
  agreements with organizations the membership of which is comprised of state or federal
  governmental agencies; and (3) cooperate, coordinate, and share information with organizations the membership of
  which is made up of state or federal governmental agencies, provided that the organizations
  agree in writing to maintain the confidentiality and security of the shared information
  in accordance with section 22 of this title. (b) The Commissioner shall not waive, and nothing in this section constitutes a waiver
  of, the Commissioner’s authority to conduct an examination or investigation or otherwise
  take independent action authorized by this chapter or a rule adopted or order issued
  under this chapter to enforce compliance with applicable State or federal law. (Added 2023, No. 110 (Adj. Sess.), § 37, eff. July 1, 2024.)