Banks, credit unions, and other financial services providers operate in one of the most heavily regulated corners of the economy, and in Vermont that regulatory landscape carries its own particular contours. Sheehey Furlong & Behm P.C. has served as trusted counsel to Vermont’s banking and financial sector since 1926, and our Banking and Financial Services attorneys bring that near-century of institutional knowledge to every engagement, from routine compliance questions to complex transactions and contested foreclosure proceedings.
With attorneys based in Burlington and the Upper Valley, we serve financial institutions across the state, combining Courtroom-tested litigation experience with the day-to-day regulatory and transactional counsel that keeps banking and lending operations running smoothly.
Regulatory Compliance
Financial institutions face overlapping layers of federal and state oversight, and staying current requires more than a passing familiarity with the rules. Our regulatory compliance work includes:
- Guidance on federal frameworks such as the Gramm-Leach-Bliley Act (GLBA), the Uniform Commercial Code (UCC), the Protecting Tenants at Foreclosure Act (PTFA), and the Garn-St. Germain Depository Institutions Act
- Guidance on Vermont’s consumer protection and financial privacy rules
- Guidance on regulatory issues triggered in fraud investigations
- Privacy and data-handling obligations, including analysis of inadvertent disclosure issues and remediation steps
- Policy and procedure review to align internal practices with current regulatory expectations
- Advisory support as new rules, guidance, and enforcement priorities emerge
Loan Servicing & Day-to-Day Operations
The bulk of a lender’s regulatory exposure arises not in the boardroom but in daily servicing operations. We support institutions with:
- Response to complex, and often interstate, service of process, including criminal and civil/administrative subpoenas, trustee process, liens and garnishment orders
- Guidance on customer account questions and issues, including joint ownership questions and power of attorney questions
- Default and acceleration notice drafting
- Due-on-sale clause enforcement analysis and lender consent documentation
- Loan modification, forbearance, and workout documentation
- Guidance and responses to UCC claims made between banks
- Loan servicing-related questions and guidance on Fannie Mae and Freddie Mac Servicing Guides
- Day-to-day advisory support for servicing staff navigating edge cases that don’t fit the standard playbook
Foreclosure & Collections
Foreclosure and collection matters demand precision, both because Vermont procedure is exacting and because the consequences of a misstep can be significant. Our foreclosure and collections work includes:
- Judicial, nonjudicial, and strict foreclosure proceedings
- Lost or missing note issues under 9A V.S.A. § 3-309 and controlling Vermont case law
- Tenant notice obligations under Vermont’s foreclosure statutes and the federal PTFA
- Municipal tax sale proceedings and related requirements
- Auto and consumer credit collections and enforcement
- Post-judgment collection
- Litigation in Vermont state and federal courts involving loan disputes and lender liability claims
Transactional Matters
Beyond compliance and enforcement, we represent lenders in transactional matters, including financing of business transactions and real estate deals. This work includes reviewing customers’ business entities and organizational documents, reviewing and advising on customers’ due diligence, and drafting and review of loan documents.
Why Work With Sheehey
Vermont’s regulatory and statutory framework doesn’t always track national trends, and generic compliance guidance can miss the details that matter most in this state. Our approach pairs deep familiarity with Vermont law with the federal regulatory frameworks that govern financial institutions nationally, giving clients advice that is accurate, current, and usable in daily operations.
As one of Vermont’s largest law firms, Sheehey offers financial institutions the depth of a full-service firm alongside a Banking and Financial Services team that has grown up inside this industry. Whether the need is a same-day servicing question, a foreclosure filing, or a multi-party real estate closing, our goal is the same: clear, actionable counsel that keeps your institution compliant and your operations moving.
To learn more about how our Banking and Financial Services team can support your institution’s regulatory, servicing, foreclosure, or transactional needs, contact us at 802-864-9891 or attorneys@sheeheyvt.com.
