Current News

Vermont Business Magazine Attorney General TJ Donovan today announced that Wells Fargo has begun a program through which Vermonters who were harmed by Wells Fargo’s practices can have their complaint reviewed by an “escalation team” to identify whether they are eligible for refunds or other compensation. Consumers may be eligible if they have not already been made whole through other restitution programs.

The consumer redress review program was a key component of the settlement with the attorneys general of all 50 states and the District of Columbia. The settlement resolved claims that the bank violated state consumer protection laws by opening unauthorized accounts without customers’ knowledge or consent, improperly charging auto loan customers for unnecessary insurance, failing to provide refunds for certain auto financing products, and incorrectly charging mortgage customers fees for extending rate locks.

Vermont Business Magazine Tennessee, Delaware, Wyoming, Texas and Montana top the nation for the highest number of fatalities caused by distracted driving, while states with strict car phone use, like Vermont, generally had fewer fatalities according to a study issued today by national financial adviser ValuePenguin.com. Nationally, distracted driving is a serious and growing threat to road safety. From 2015 to 2017, more than 1,400 fatalities were attributed to car crashes involving drivers that were distracted by their cell phones.

Vermont Business Magazine The Vermont Economic Development Authority (VEDA) today announced three changes to its Board of Directors, electing a new Chair, Vice-Chair and Treasurer. Former Chair John Snow of Charlotte stepped down from his role on February 17th. 

by Jack Hoffman, Public Assets Institute When the Vermont Senate voted last week to increase the state’s minimum wage to $15 an hour by 2024, it was portrayed as an economic boon and a way to narrow the gap between low-income families and the well-to-do. What some senators may not have realized is that they also were passing a health care bill.

Vermont Business Magazine Governor Phil Scott has announced a new cybersecurity training partnership between the State and the SANS Institute. GirlsGoCyberStart, a free online game of discovery, provides Vermont high school girls interested in a cybersecurity career, with a tool to learn basic cybersecurity skills and test their cyber aptitude. Students from Vermont who excel in the CyberStart program will have the opportunity to share in $150,000 in scholarships for further cyber education, and ultimately an additional $500,000 in scholarships for college and graduate-level training and preparation for highly sought-after industry certifications.

Vermont Business Magazine Grants from the J Warren & Lois McClure Foundation will support Northern Vermont University programs that increase NVU student retention and completion rates, promote career education among eighth graders and aid workforce development in rural Vermont. The McClure Foundation, a supporting organization of the Middlebury-based philanthropic Vermont Community Foundation, awarded a $15,000 grant over three years to both the NVU-Lyndon and NVU-Johnson Summer Bridge programs. Summer Bridge is a five-day program of academic preparation and team-building activities to build skills and heighten motivation in first-generation and low-income students in their first year.

Vermont Business Magazine The Department of Vermont Health Access announced today that enrollment in Vermont’s individual health plans increased to 34,396 in January, up nearly one percent from the prior year. The number of subsidized members and unsubsidized members both increased relative to the prior year. Due to increased federal subsidies for those who qualify, the average subsidized member is paying $131 per month in 2019, compared to $163 in 2018.

The number of subsidized enrollees under age 45 grew by three percent. Notably, enrollment grew most among young adults age 26-34 – the age group that the 2018 Vermont Household Health Insurance Survey found most likely to be uninsured. This increase in young adult enrollment more than made up for a slight decrease in enrollees over age 45, mainly attributed to baby boomers turning 65 and moving from commercial coverage to Medicare.

by David Coates, KPMG Managing Partner (Retired) Just recently the State’s financial statements were published for the fiscal year ending June 30, 2018. For perhaps the first time in history, the state’s Balance Sheet shows a negative net worth of $200 million. In other words, our liabilities exceed our assets. By contrast, the fiscal year ending June 30, 2017, showed our net worth was a positive $1.3 billion, so the logical question would be, what happened to give us a variance to the tune of $1.5 billion?

Vermont Business Magazine On the eve of a congressional hearing about the growing public health threat of measles outbreaks, Vermont Health Commissioner Mark Levine, MD, called for “a concerted effort to return measles to the ranks of obscure diseases.” In a letter to the members of Congress convening the hearing, Dr Levine said that recent outbreaks show that measles, a vaccine-preventable disease that just 20 years ago was declared eliminated from the U.S., is again becoming a grave concern. Dr. Levine attributes this, in part, to the spread of misinformation that has resulted in not enough people getting vaccinated to prevent its spread.

“Several of the outbreaks around the country started among communities with low rates of vaccinations,” said Dr. Levine. “The growing incidence we are seeing is often the result of the spread of inaccurate or misleading information about these safe and effective vaccines.”

Vermont Business Magazine A group of teacher leaders and founding partner, Vermont-based National Life Group, announced on Monday the launch of a new coalition to address and prevent school shootings and other acts of violence by providing teachers and all school employees with the knowledge, tools and resources they need to proactively keep schools safe.

Vermont Business Magazine The Flexible Capital Fund (Flex Fund) of Vermont, Coastal Enterprises (CEI) of Maine and New Hampshire Community Loan Fund (Community Loan Fund) today announced a joint investment of $1 million in Encore Renewable Energy, a Vermont-based clean energy company with a proven track record of reclaiming undervalued real estate for community-scale solar PV systems.

Vermont Business Magazine Albany College of Pharmacy and Health Sciences is launching a new 3-year Doctor of Pharmacy (PharmD) program on its Colchester Campus; applications are now being accepted for Summer 2019 enrollment. The program, which was recently approved by the Accreditation Council for Pharmacy Education, is scheduled to begin on June 3 following a four day orientation (May 28-31).

With students increasingly looking to fast-track their careers in order to begin earning income sooner and start gaining professional experience, the 3-year program helps address a growing need.

Of the more than 150 Pharm.D. programs in the country, there are only 21 who offer 3-year programs and just four in the Northeast (including ACPHS-Vermont).