VT Department of Financial Regulation Urges Vermonters Affected by Federal Government Shutdown to Contact Financial Institutions

MONTPELIER, Vt. - With thousands of Vermont residents affected by the ongoing government shutdown, the Vermont Department of Financial Regulation advises individuals who are having trouble managing loan, mortgage, or insurance payments to proactively communicate with their lenders or insurers.

"Companies are equipped to work through these challenges with individuals. However, they cannot offer options or assistance if they do not know your situation. Do not wait for cancellation, default, late fees, or penalties to accrue. If you are experiencing or anticipating financial hardship as a result of the federal government shutdown, reach out to the company to explore what flexibility and options they can offer," Commissioner Kaj Samsom said.

The Department of Financial Regulation has urged companies to use all available options and alternatives to assist individuals who are temporarily unable to make payments or meet their obligations due to the federal government shutdown.

Vermonters can report any concerns about their bank, credit union, lender, or insurer to the Department.