As LPL considers the option of buying an industrial loan company
(instead of a bank), it says it would like to take cash sweep assets, for example, "and put [them] into a high-grade portfolio to capture more of the spreads than we're able to capture today," Casady explained.
The unitary thrift charter already provided an opportunity for owning a depository institution, as did the industrial loan company
charter offered by a few states.
IN 1983 Hirotoshi Yamamoto was removed as the president of Manoa Finance when state regulators shut down the industrial loan company
Headquartered in Salt Lake City and chartered in 2003 as an Industrial Loan Company
(ILC), UBSB is regulated by the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions.
San Francisco-based SoFi had applied to the state of Utah for an industrial loan company
24) When Dodd-Frank's moratorium expires in 2013, Congress should permit Wal-Mart to utilize an Industrial Loan Company
(ILC) (25) as long as the retailer and the ILC maintain an arm's-length relationship that is monitored by an FDIC equipped with the authority to enforce current banking laws more strictly.
Southern State's history dates to 1959, when it was founded as an industrial loan company
, according to Donald Walsh, the Malvern bank's president and CEO.
WaI-Mart has applied to open an industrial loan company
to handle the processing of electronic payments.
And the Bank's rising core operating earnings underscore its progress in the transition from an industrial loan company
to a commercial bank that began in February 2009.