The National Association of Industrial Bankers applauds the Senate Banking Committee for advancing the nomination of Travis Hill as Chairman of the Federal Deposit Insurance Corporation and urges swift confirmation by the full Senate.

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. 

The National Association of Industrial Bankers today expressed deep concern over the Tenth Circuit’s decision upholding Colorado’s effort to extend its interest-rate laws to out-of-state, federally insured banks.

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.

A letter to FDIC Acting Chairman Travis Hill reaffirming that industrial banks are among the nation’s best-performing, best-capitalized, and safest financial institutions—operating under robust FDIC oversight that is as strong or stronger than that applied to bank holding companies.

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. 

Last week, the National Association of Industrial Bankers (NAIB) welcomed strong bipartisan support for industrial banks (IBs) from a group of United States Senators. They urged the FDIC to uphold the laws Congress has established to ensure fair treatment of IB applications.

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.  

The National Association of Industrial Bankers, the Utah Bankers Association, and the Nevada Bankers Association appreciate the FDIC’s ongoing support in improving the transparency, timing, and consistency of the current application process.

A new report from the Utah Center for Financial Services at the David Eccles School of Business at the University of Utah finds that industrial banks have consistently demonstrated resilience and a strong financial condition, even during periods of economic stress.

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. 

Thrivent Bank is the sixteenth FDIC-insured industrial bank operating in Utah. Thrivent Bank is the first de novo industrial bank to open in the state since 2021.