Updates
The latest news and advocacy information for industrial bankers.
An OCC Insider’s Perspective on Fintechs and Bank Charters
While the novel fintech charter may never actually be granted, the concept ironically may usher in a rash of neobanks under full national charters, like Varo Bank. In a way that may end up creating a more level playing field.
FDIC finishes long-awaited rules on brokered funds, ILCs
Banks and some of their deposit-gathering businesses won additional regulatory relief Tuesday when the Federal Deposit Insurance Corp. finalized a new framework for classifying brokered deposits enabling a broader set of companies to escape restrictions.
An Economic Analysis of Utah’s Industrial Banks – Industry Snapshot
Industrial banks have a significant economic presence in Utah, the nationwide center for this banking segment with a 110-year history. The state’s current and former industrial banks pay above average wages and make community investments. In 2019, current industrial banks’ economic impacts included 6,468 instate jobs in all major sectors, $722.0 million in state GDP, and $32.0 million in state and local tax revenue in Utah.
An Economic Analysis of Utah’s Industrial Banks
Industrial banks generate substantial economic benefits in Utah, the nationwide center for this banking segment with a 110-year history.
Utah anchors and dominates industrial banking in the United States
The Kem C. Gardner Policy Institute today released a groundbreaking analysis detailing the substantial economic benefits of industrial banks in Utah, the nationwide center for this banking segment with a 110-year history.
Simply Soundbites - What’s an ILC?
Darryle Rude, Chief Examiner at the Utah Department of Financial Institutions, explains what an Industrial Loan Corporation is (also known as an Industrial Bank or ILC).
FDIC Issues Procedures for Deposit Insurance Applications from Applicants that are Not Traditional Community Banks
The FDIC has released a supplement to its Deposit Insurance Application Procedures Manual (Procedures Manual) that addresses deposit insurance applications involving unique or complex proposals.