§ 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.)