The latest news and advocacy information for industrial bankers.
Updates
Important News Updates
The National Association of Industrial Bankers applauds the Federal Deposit Insurance Corporation’s approval today of Edward Jones Bank to operate as a federally insured industrial bank.
The National Association of Industrial Bankers strongly supports the American Lending Fairness Act of 2026, introduced by Senator Bernie Moreno (OH) and Representative Warren Davidson (OH), which restores clarity to the long-standing interstate banking rules under the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA).
The National Association of Industrial Bankers (NAIB) expressed its strong opposition to newly introduced legislation – the Close the Shadow Banking Loophole Act – introduced by Sen. John Kennedy (R-IA) and Sen. Andy Kim (D-NJ) and designed to curtail the ability of industrial banks to serve market needs that other banks overlook.
The National Association of Industrial Bankers (NAIB) welcomes today’s approval by the Federal Deposit Insurance Corporation (FDIC) of Ford Credit Bank and GM Financial Bank to operate as federally insured industrial banks.
In a new development in the case National Association of Industrial Bankers, et al v. Weiser, et at, the 10th Circuit Court of Appeals has granted our motion for a full panel rehearing.
The National Association of Industrial Bankers (NAIB) along with American Financial Services Association, Financial Technology Association, Innovative Lending Platform Association, Online Lenders Alliance, TechNet, and The Payments Coalition letter.
The National Association of Industrial Bankers (NAIB) congratulates UBS on its successful transition from an industrial bank to a nationally chartered bank, marking an important milestone in the firm’s continued growth in the United States.
Industrial loan charters and new bank formations are featured in recent testimony by Treasury Secretary Scott Bessent. Read the article from PYMNT.
The Golden Apple from Eris Group
After an eventual two-week Easter Recess, the Senate returns to session this evening, and the House joins tomorrow. The news cycle during the recess was primarily dominated by the Iran War and the resulting economic and diplomatic fallout.
The District of Columbia retreated indoors today when threatened with heavy rains and tornado-like winds. Such was the level of concern that the House cancelled its Monday vote series. The House is in after a week-long recess; the Senate returns for another week.
The House has a short week this week, voting on Wednesday and Thursday of this week after cancelling votes on Tuesday and Friday. The Senate will convene later today. Primary season also starts tomorrow with Texas, Arkansas, and North Carolina on the ballot. Mississippi and Illinois will take place later this month.
It is a fairly quiet week legislatively, as the State of the Union slows activity on the House floor due to added security measures.
The focus this week continues to be on DHS funding. Last week, Congress passed appropriations bills for all other agencies, with an agreement to work on an agreement on changes to ICE procedures. That deadline expires on Friday, so we expect a good amount of back-and-forth this week.
We are looking forward to the Winter Olympics, beginning this Friday, February 6th. If you are looking for a thrill, tune in to the biathlon—any event, really, but the relay is particularly exciting.
The House Financial Services Committee will hold its first markup of 2026 this Thursday, with measures related financial reporting, artificial intelligence, bank tailoring, and terrorism risk insurance reauthorization.
We are returning after the holiday break and first week of session for both chambers. Last week, the House advanced a partial funding package that will be considered in the Senate.
The US Senate will take up the confirmation of 97 nominees under the new Senate rule that permits considering nominees together rather than individually. Included in this group will be Travis Hill to be Chairman of the Federal Deposit Insurance Corporation and Michael Selig to be the Chairman of the Commodity Futures Trading Commission.
Due to the angle of the sun in relation to the Earth, it is colder in December than in March when the spring equinox occurs. Regardless, it looks and feels like winter here in the nation’s capital.
The government is reopened and the House and Senate are back to work, at least until Thursday. The House and Senate are in recess next week for Thanksgiving and return on December 2.
Last night, the Senate voted 60-40 to take up a package that would reopen the federal government and fund parts of the government for FY26. Included in the package are three of the 12 annual appropriations bills, including Military Construction and Veteran Affairs, Agriculture, and the Legislative Branch.
The federal government has entered the second month of FY 2026 without a passing any appropriations bills so the government remains closed for the most part. If the shutdown continues until Wednesday, which it most certainly will, we will break the record for the longest federal government shutdown.
Tomorrow night's new moon should provide a dark sky for viewing two comets, Lemmon and SWAN, which will be closest to the earth in our lifetimes. Commet Lemmon will not make its way around to earth for another 1300 years and Comet SWAN for another 700 years.
Tonight is the Harvest Moon and the first of three Super Moons this year. It is the Harvest moon because it is the full moon closest to the autumnal equinox.
With the end of FY 2025 looming on Tuesday at midnight, all indications are that Congress will fail to pass a Continuing Resolution (CR) to keep the government funding into FY 2026.
Today marks the end of summer with the autumnal equinox. I am always a bit melancholy about the end of summer; fall is also a lovely if you ignore the shorter days and the ubiquitous pumpkin spice.
We are 15 days from the end of the fiscal year. The House is expected to release a short-term Continuing Resolution later this week that will fund the federal government through November 20th.
This is the last scheduled session week before the August break for the House of Representatives; the Senate is in next week and then set to break. However, President Trump has urged the Senate to stay in session and work to confirm nominees.
In DC, this week has been dubbed “Crypto Week” with multiple digital asset bills up for floor consideration in the House. We will be keeping an eye on those vote tallies.
The Senate is in session this week, but the House has canceled votes after staying in D.C. last week to pass the reconciliation package.
Both chambers are back this week before a scheduled recess next week for the 4th of July. It is a busy week ahead, but we are still basking in the glow of the OKC Thunder’s clinching of the NBA title yesterday. The extra sunlight from the solstice doesn’t hurt, either.
May was an eventful month, with the reconciliation bill sticking to timelines (against many predictions) and passing the House of Representatives. This month will be devoted to the Senate, as Majority Leader John Thune pushes to get the bill on the President’s desk by July 4th.
We write this knowing that the moment we hit send, it will become obsolete, because such is the pace of change these days. The main event we are watching continues to be reconciliation.
Last week, several committees in the House marked up their portions of the reconciliation bill, marking another step in the process toward completion of President Trump’s signature legislative effort.
Members are coming back to Washington, DC, today after a two-week recess for Easter. This four-week stretch will take us to Memorial Day and will be largely focused on getting the reconciliation package across the floor.
The Senate held a marathon vote session on Friday night, ending with the early Saturday passage of a budget resolution that advances President Trump’s widespread agenda. The measure, as passed, departs from the House version in a few key areas and has sparked criticism from deficit hardliners.
This is week two of a three-week work period ahead of the Easter recess, and both Chambers are feeling urgency to act on a unified budget resolution. In addition, the Trump administration plans to unveil a new, expansive set of tariffs on Wednesday.
A week-long recess for the House and Senate passed last week with no shortage of activity from the executive branch to keep everyone busy. As lawmakers return to the Hill this week, conversations will continue on a joint budget resolution and strategy to proceed with reconciliation.
This week will be focused on government funding, as the March 14th shutdown deadline looms. Over the weekend, Congressional Republicans released text for a continuing resolution that would extend funding through September.
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The story behind Salt Lake City’s booming banking industry
CNBC unlocks the story behind Salt Lake City’s booming banking industry. The city’s exceptional growth in finance can be traced back to an early catalyst: industrial banking.
Request for Information on Deposits - 60 Day Extension Request
The National Association of Industrial Banks joins other associations in requesting an extension to the 60-day comment deadline that was included as part of the FDIC’s Request for Information on Deposits.