NAIB Applauds FDIC Action on Stellantis Bank USA to Operate as an Industrial Bank
The National Association of Industrial Bankers (NAIB) applauds today’s action by the Federal Deposit Insurance Corporation (FDIC) on the application by Stellantis Bank USA for approval to operate as a federally insured industrial bank.
“We welcome the approval of Stellantis Bank USA, following a well-established and successful path of industrial banks supporting the vital U.S. automotive sector,” said Frank Pignanelli, Executive Director of the National Association of Industrial Bankers. “Building on Stellantis’ long-standing manufacturing and dealer network presence in the U.S., today’s approval will help back vehicle sales and consumer access to credit to strengthen the broader economy."
Industrial banks are fully regulated institutions with a strong record of safety and soundness. They play a critical role in supporting consumer and commercial lending, payments, and other financial services, while promoting competition and helping prevent excessive concentration in the banking system.
NAIB looks forward to the FDIC’s continued work in advancing applications that meet statutory and supervisory standards and that contribute meaningfully to consumer choice, competition, and long-term economic strength.