Response to recent joint trade association letter regarding H.R. 5912

The National Association of Industrial Bankers hereby responds to a recent joint trade association letter (“Joint Letter”) sent by the Bank Policy Institute (BPI), the Center for Responsible Lending (CRL), the Independent Community Bankers of America (ICBA) and other organizations. This Joint Letter calls on Congress to pass H.R. 5912, The Close the ILC Loophole Act. This letter will correct the misrepresentations made in the Joint Letter and provide you with an accurate story about Industrial Loan Corporations (ILCs).

Read the letters to the House Committee on Financial Services and Senate Banking Committee.