In the latest Lord of the Rings Online developer journal entry, Game Systems Engineer 'Ransroth' discusses the in-game vault system and improvements the Turbine team has been working on for implementation soon. The improvements are being implemented based on player feedback on the official LOTRO forums and include things such as resizeable windows, icon-only view and the main view being broken down into 'renameable' chests.
Chest Separators and Renaming Chests
Instead of one long list, the main view is now broken out into chests, each with its own name and header. You can rename a chest to anything you like by double-clicking it, right-clicking it, or clicking the "Rename" button.
While editing the name, hit enter to confirm the new name or esc to cancel editing. You can also use the Submit and Cancel buttons that appear on the right hand side.