Tag Archives: financial policy

News Release: Consumer Advocate Groups Call On FDIC To Reject Ford Credit’s ILC Charter Application

Ford Motor Company should be denied deposit insurance for its proposed new Ford Credit industrial loan company (ILC) charter, the National Community Reinvestment Coalition (NCRC), the National Consumer Law Center (on behalf of its low-income clients), Americans for Financial Reform Education Fund, and the Center for Responsible Lending wrote to the Federal Deposit Insurance Corporation (FDIC) on Wednesday.

News Release: Federal Reserve and OCC Should Reject TD Bank’s Proposed Merger with First Horizon Bank, Groups Write in Comment Letter

Amid growing concern about corporate consolidation, the Center for Responsible Lending (CRL) and Americans for Financial Reform Education Fund are leading a letter calling for the Federal Reserve and the Office of the Comptroller of the Currency (OCC) to reject a proposed merger between TD Bank and First Horizon Bank.

News Release: Bank, Credit Union and Consumer Groups Support Committee Vote to Close the Industrial Loan Company Loophole

Washington, D.C. – The U.S. House Committee on Financial Services convened today to mark up a series of proposed laws, including a bill to close the industrial loan company (ILC) loophole. The ILC loophole allows Big Tech and other nonbank companies to offer financial products and services without complying with the safeguards and oversights required of bank holding companies.