Episode 345: The Industrial Loan Company (ILC) Charter is back!

This episode examines a recent article from Bank Director titled “Companies Brush Off Plans for Industrial Banks” and an article form Investopedia titled “Industrial Banks or Loan Companies: Overview and Criticism.” The Industrial Loan Company Charter or ILC is a type of banking charter that is known as a “loophole” in the industry. The ILC charter has been heavily criticized for many years and continues to rear its ugly head from time to time. With the recent announcements by several motor vehicle companies seeking to attain an ILC, the topic has returned to center stage once again. Links to both articles are included below.  

Link: Industrial Banks or Loan Companies: Overview and Criticism

Link: Companies Brush Off Plans for Industrial Banks  | Bank Director