Download or read book Industrial Loan Corporations recent asset growth and commercial interest highlight differences in regulatory authority report to the Honorable James A Leach House of Representatives written by and published by DIANE Publishing. This book was released on with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Loan Corporations written by Richard J. Hillman and published by DIANE Publishing. This book was released on 2006-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Examining the Regulation and Supervision of Industrial Loan Companies written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Loan Companies A Growing Industry Sparks a Public Policy Debate written by Kenneth Spong and published by DIANE Publishing. This book was released on 2008-05 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Loan Co., or ILCs, are a small, but rapidly growing part of the financial industry. These institutions operate in 7 states & have nearly all of the same powers as commercial banks. However, ILCs differ greatly from banks in one characteristic -- ILCs may be owned & operated by firms engaged in commercial activities, thus skirting the prohibitions on mixing banking & commerce. This article examines the public policy issues that arise from mixing banking & commerce. It reviews the history of ILCs & the legal & supervisory frameworks under which they operate. Looks at the reemergence of ILCs under their new forms of ownerships & takes a close look at individual ILCs & the types of bus. they conduct. Also explores the public policy issues. Illus.

Download or read book Industrial Loan Companies Banks and the Separation of Banking and Commerce written by and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Loan Companies (ILCs) are state-chartered and state-regulated depository institutions. The Federal Deposit Insurance Corporation (FDIC) may insure them. Their owners include nonfinancial companies that cannot own ("hold" stock of) a bank under the Bank Holding Company Act (i.e., to be a bank or financial holding company). Their primary federal regulator is not the Federal Reserve, which regulates bank holding companies, but the FDIC. While prominent large ILCs include subsidiaries of securities firms, their owners also include automotive and retailing companies. The ILC form reflects a persistent tendency to combine the financing of a business with its operations, standard in many countries, especially Germany and Japan, but in disfavor in America. ILCs, therefore, have developed against a long U.S. two-way tradition of the separation of banking and commerce. (1) Ownership interests that nonfinancial firms may have in banks are generally 25% or less. (2) Banks may generally hold only nominal amounts of corporate stock. ILCs evoke two major policy concerns. First, should Congress grant ILCs powers that would allow them to be nationwide banks while in competition with community banks? Second, could the combination of state and FDIC regulation provide oversight comparable to that for nationwide banks, especially for bank holding companies? The interest shown by Wal-Mart in controlling an ILC with nationwide potential has heightened interest in these issues. The 108th Congress considered these issues in two bills that passed the House. H.R. 758 would have allowed ILCs to provide business checking accounts, while H.R. 1375 would have allowed ILCs to open branches nationwide. These measures could have transformed ILCs into a parallel banking system regulated primarily by a few states, growing into large institutions with commercial ownership. In 2005, Wal-Mart announced that it was again applying for an ILC charter. (DaimlerChrysler did likewise later in the year). In the 109th Congress, H.R. 1224, allowing business checking accounts, passed the House on May 24, 2005, in a way preventing ILCs owned by nonfinancial businesses from becoming more bank-like. H.R. 3882 independently seeks to make any company that controls an ILC become a financial holding company (as defined above.).The House Financial Services Committee voted out H.R. 3505, a regulatory relief measure, on November 16. This bill would restrict ILCs from opening branches on an interstate, national, basis. This report analyzes the controversy by: (1) providing a historical overview of the separation of banking and commerce; (2) examining the nature of ILCs and their regulation; and (3) identifying and analyzing the relevant legislation in Congress. This report will be updated as events warrant.

Download or read book Industrial Lenders News written by and published by . This book was released on 1928 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report for Companies Licensed by the Department of Corporations Under the Industrial Loan Law written by California. Department of Corporations and published by . This book was released on 1996 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Special Rules for Industrial Loan Companies written by California. Division of Corporations and published by . This book was released on 1940 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Morris Plan of Industrial Loans and Investments written by Industrial Finance Corporation and published by . This book was released on 1915 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report of the Industrial Loan Companies of Iowa written by Iowa. Auditor of State and published by . This book was released on 1977 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report Operations of Industrial Loan Companies and Insurance Premium Finance Companies written by California. Department of Corporations and published by . This book was released on 1971 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Loan Corporations written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-15 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial loan corporations : recent asset growth and commercial interest highlight differences in regulatory authority : testimony before the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, House of Representatives

Download or read book H R 698 written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2007 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Loan Companies written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Convention of American Industrial Licensed Lenders Association written by National Consumer Finance Association and published by . This book was released on 1927 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Loan Companies banks and the Separation of Banking and Commerce written by N. Eric Weiss and published by . This book was released on 2006 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report of Operations of Corporations Organized Under Industrial Loan Act written by California. Division of Corporations and published by . This book was released on 1945 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: