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Byline: George Sutton Much of the recent discussion about industrial banks -- also known as industrial loan companies, or ILCs -- focuses on differences in the way their parent companies [...]

Byline: Joe Adler WASHINGTON â Forcing owners of narrow-purpose banks to become bank holding companies could cause certain institutions to dissolve, but have a relatively minor impact on the industry [...]

Byline: Joe Adler WASHINGTON - House Financial Services Committee Chairman Barney Frank said Thursday that existing industrial loan companies should be grandfathered and not forced to convert to bank holding [...]

WASHINGTON - The Obama administration's plan to revamp financial oversight aims to restructure the banking industry, as well. Gone would be the thrift charter, along with industrial loan companies. All [...]

Federal Deposit Insurance Corp. Chairman Sheila Bair urged Congress Wednesday to speed up passage of legislation that would bar commercially owned industrial loan companies. Speaking to community bankers in Florida, [...]

The ILC Treadmill As if the partisan Senate Banking Committee vote on a bill to ban commercial ownership of industrial loan companies last week was not enough of a bad [...]

WASHINGTON -- The future of a bill to ban commercial ownership of industrial loan companies may well rest in the hands of Sen. Richard Shelby, the Senate Banking Committee's lead [...]

Senate Banking Committee Chairman Chris Dodd said Wednesday he plans to hold a panel vote next week on legislation to ban commercial ownership of industrial loan companies. The Connecticut Democrat [...]

WASHINGTON -- Banks and thrifts allocated loan-loss provisions in the third quarter to an extent not seen in more than 20 years, dragging earnings to their lowest level since the [...]

WASHINGTON -- Senate Banking Committee Chairman Chris Dodd said Wednesday he planned to release draft legislation in the next few days to resolve the debate over industrial loan company ownership [...]

WASHINGTON -- Proponents of a bill to limit ownership of industrial loan companies found out at Thursday's Senate Banking Committee hearing on the issue that resistance has not abated. Several [...]

A chief Senate sponsor of a bill to bar ownership of industrial loan companies by commercial firms is expected to oversee a hearing today on the future of ILC regulation. [...]

WASHINGTON -- Rep. Paul Gillmor of Ohio, a key supporter of curbs on commercially owned industrial loan companies, died Tuesday night in his Washington-area home. Initial reports Wednesday identified a [...]

When MagnetBank opened two years ago, its founders chartered it as an industrial loan company, because that charter seemed to suit its unconventional business model of funding commercial loans entirely [...]

The Federal Deposit Insurance Corp.'s one-year freeze on industrial loan company applications by commercial companies does not expire until early next year, but advocates of a permanent ban are starting [...]

The House of Representatives has passed HR 698, legislation that is intended to prevent companies that receive more than 15% of their revenue from 'commercial activities' from owning a Utah [...]

The House passed a bill late Monday to tighten regulation of industrial loan companies and bar commercial firms like Wal-Mart Stores Inc. and Home Depot Inc. from owning them. The [...]

WASHINGTON -- The House was expected to easily pass a bill late Monday that would bar commercial firms from owning industrial loan companies. But the bill, which also would put [...]

WASHINGTON -- Sens. Sherrod Brown, D-Ohio, and Wayne Allard, R-Colo., two Senate Banking Committee members, said they believe they have wide support on the panel to pass a bill that [...]

ACTION ON LEGISLATION FHA Reform HR 1752, HR 1852, S 947 The House Financial Services Committee passed a bill 45 to 19 on May 3 that would modernize the Federal [...]

Senate Banking Committee members Sherrod Brown, D-Ohio, and Wayne Allard, R-Colo., will unveil legislation today to bar commercial firms such as Wal-Mart Stores Inc. from owning industrial loan companies. The [...]

House Financial Services Committee Chairman Barney Frank said Thursday that the House will soon vote on bills to restrict ownership of industrial loan companies and create a new regulator for [...]

WASHINGTON -- The House Financial Services Committee approved a ban on commercially owned industrial loan companies Wednesday, but panel leaders signaled a final bill likely will have to include exceptions [...]

The House Financial Services Committee postponed to today votes on bills to tighten regulation of industrial loan companies and reform the Federal Housing Administration. The ILC bill, crafted by Financial [...]

Washington -- A Top Federal Reserve Board Official Sent Mixed Signals At A Hearing Wednesday About How Industrial Loan Companies Should Be Regulated, Simultaneously Saying The Central Bank Strongly Supports [...]

WASHINGTON -- Federal regulators have struck a deal on who will have authority over the parent firms of industrial loan companies, including formally recognizing four different regulators as consolidated supervisors, [...]

WASHINGTON -- While Congress debates a bill placing ownership restrictions on industrial loan companies, the Federal Deposit Insurance Corp. is already imposing tougher conditions than contemplated by lawmakers. In orders [...]

Open For Comment Talent Amendment A proposal by the Defense Department that would implement a 36% annual percentage rate cap, including fees, on credit to military personnel. The proposal does [...]

ACTION ON LEGISLATION GSEs HR 1427 The House Financial Services Committee passed legislation 45 to 19 on March 29 that would create a new regulator for Fannie Mae, Freddie Mac, [...]

WASHINGTON -- Wal-Mart Stores Inc. tries to operate an industrial loan company, stirring opposition among community bankers. The retailer is rebuffed, and lawmakers press to prevent nonfinancial companies from using [...]

The Federal Deposit Insurance Corp. approved applications to form three industrial loan companies owned by financial parents. The applications for the ILCs CapitalSource Bank and Marlin Bank, both of Salt [...]

A House Financial Services Committee hearing on industrial loan companies originally scheduled for today has been postponed one week, to March 29. The hearing had been called to review a [...]

WASHINGTON -- Wal-Mart Stores Inc. tries to operate an industrial loan company, stirring opposition among community bankers. The retailer is rebuffed, and lawmakers press to prevent nonfinancial companies from using [...]

I believe in the marketplace and that those who would restrict its operation should bear a significant burden of demonstrating the need for the restrictions. Moreover, when government intervenes in [...]

WASHINGTON -- Efforts by 19 states to close the door to commercially owned banks are bolstering the drive in Congress to restrict industrial loan company ownership, according to its chief [...]

The House Financial Services Committee plans to vote this month on a bill to prohibit commercial firms such as Wal-Mart Stores Inc. and Home Depot Inc. from owning industrial loan [...]

OPEN FOR COMMENT Subprime Hybrids A proposal by the federal banking and thrift agencies that would force institutions to underwrite subprime hybrid adjustable-rate mortgages to the fully indexed rate. The [...]

WASHINGTON -- The number of states debating legislation that would block Wal-Mart Stores Inc. and other commercial companies from using an industrial loan company to offer in-store banking services has [...]

WASHINGTON -- Federal Deposit Insurance Corp. Chairman Sheila Bair has told agency officials she is 'optimistic' Congress will pass a bill determining who can own an industrial loan company. In [...]

WASHINGTON -- Rep. Paul E. Gillmor is one of the House's best-known critics of a law that lets commercial companies enter the banking business through an industrial loan company charter. [...]

Open for Comment Industrial Loan Companies A proposal by the Federal Deposit Insurance Corp. that would impose conditions on new industrial loan company bids or ILC change-of-control notices by financial [...]

The Federal Deposit Insurance Corp. is set to decide this afternoon whether to extend its moratorium on industrial loan company applications. The agency set a six-month moratorium in July on [...]