Tag: industrial loan companies

Senate Bill Aims to Close Industrial Loan Company Loophole

Following last week’s announcement that the Federal Deposit Insurance Corporation (FDIC) approved Ford Motor Company and General Motors Company to establish industrial loan companies, a bipartisan bill was introduced in the U.S. Senate...

FDIC Approves Carmakers’ Bids to Establish Banks

Last week, the Federal Deposit Insurance Corporation (FDIC) approved deposit insurance applications from Ford Motor Company and General Motors Company, paving the way for the automakers to establish their own industrial...