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ARTICLE · 01 AUGUST 2025

US FDIC Requests Comment On Industrial Loan Company Framework

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On July 15, 2025, the Federal Deposit Insurance Corporation ("FDIC") requested comment on its framework for reviewing applications for deposit insurance from industrial loan companies and industrial banks (collectively, "ILCs").

United StatesFinance and Banking
Matthew Bisanz
Matthew Bisanz
Andrew Olmem
Andrew Olmem
Jeffrey P. Taft
Jeffrey P. Taft
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On July 15, 2025, the Federal Deposit Insurance Corporation ("FDIC")requested commenton its framework for reviewing applications for deposit insurance from industrial loan companies and industrial banks (collectively, "ILCs"). In doing so, the FDIC has signaled that it will seriously consider applications from ILCs for deposit insurance.

The ILC option has generated a significant amount of public interest in recent years, as various entities explored the feasibility and business opportunities of including an ILC as part of their operations. This interest has only increased as fintechs and other companies see the potential benefits from nationwide lending programs, interest rate exportation, state licensing exemptions, and inexpensive deposit funding.

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