On the Hill: Romney drafts pro-ILC coalition
Utah Sen. Mitt Romney and 11 other senators are urging the FDIC to treat so-called industrial loan companies fairly and avoid “needless bureaucratic delays” when processing ILC deposit insurance applications. State-based ILC charters allow non-financial firms to establish banking units. Romney made the request to the FDIC in a letter that was also signed by Sens. Catherine Cortez Masto, Susan Collins, Kyrsten Sinema and Debbie Stabenow.