ILCs

Brokerage firm pursuing Utah industrial bank charter

11/05/19

A group affiliated with Interactive Brokerage Group has filed an application with the FDIC to form Interactive Bank.

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Scotiabank’s ‘digital factories,’ CFPB’s complaint leader, small-regional survival guide: Top stories of the week

10/25/19

Why the Toronto bank is focusing on digital features; complaints about credit monitoring plans flood CFPB; the strategies midsize banks are relying on to stimulate growth; and more from this week’s most-read stories.

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14 years after Walmart, banks face a new ILC bogeyman

10/24/19

The Rakuten application has opened another front in the battle over nonfinancial companies' ownership of banks.

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Banking charter remains a long way off for fintechs after court ruling

10/22/19

A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller Currency’s special-purpose charter.

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Mortgage servicer AmeriNat refiles for industrial bank charter

08/14/19

The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending.

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Citi in laggard's role; EU bank CEOs have less skin in the game

07/29/19

Citigroup's made some strides after the battering its share price took last year, but it still trails JPMorgan Chase and Bank of America; chiefs at the top U.S. global banks own on average more than 15 times the amount of their own firm's stock than their European counterparts.

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ABA voices 'serious concerns' about e-commerce firm's ILC bid

07/26/19

The industry trade group said Rakuten's non-financial activities raise questions about its pursuit of a banking charter.

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Latest to seek ILC charter is Japanese e-commerce firm

07/26/19

Rakuten joins a growing list of fintechs trying to enter the regulated banking sector. All have faced their share of obstacles.

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Smaller institutions should embrace, not oppose, fintechs

03/22/19

Financial startups are becoming important partners for community banks and credit unions, despite lobbying efforts to limit their growth.

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'What the heck do you think the CFPB was set up for?': Comments of the week

03/07/19

Readers consider Square's bid to become an industrial loan company, weigh the Federal Deposit Insurance Corp.'s oversight of brokered deposits and debate reforms to the Consumer Financial Protection Bureau.

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