Why The ICBA Is Fighting Industrial Loan Charters For FinTechs
PYMNTS
OCTOBER 17, 2017
ILCs are used to form industrial loan companies, better known as industrial banks. An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956.
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