Senators ask FDIC to “follow the laws” on industrial banks
A bipartisan group of senators led by Sen. Mitt Romney (R-Utah) sent a letter to the Federal Deposit Insurance Corp. this morning urging the bank regulator to give industrial banks fair regulatory treatment, particularly among new entrants.
“We strongly oppose regulatory actions, both formal and informal, that might target lawful ILC charter applications and are concerned about the delays in the FDIC’s review and final decisions on pending applications,” the senators wrote.