Audio – FDIC decision on ILC moratorium due this month

January 10, 2007


The FDIC meets at the end of this month to decide whether to agree to a congressional request that the agency extend a six-month moratorium on retailers’ applications for banks known as industrial loan companies (ILC). FDIC Chairman Sheila Bair says the agency is prepared to work “in a collaborative, supportive way” on the issue with lawmakers such as House Financial Services Chairman Barney Frank.

Bair spoke at the Reuters Regulation Summit in Washington.

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