(Reuters) - The measure requires a company to generate at least 85
percent of its revenues from financial services in order to own
and operate a type of bank known as an industrial loan company
.
The vote was taken in the midst of a one-year regulatory
moratorium on ILC applications by commercial companies. The
Federal Deposit Insurance Corporation, which reviews the
applications, has given Congress until January 2008 to decide.
Read more at Reuters.com Government Filings News
percent of its revenues from financial services in order to own
and operate a type of bank known as an industrial loan company
.
The vote was taken in the midst of a one-year regulatory
moratorium on ILC applications by commercial companies. The
Federal Deposit Insurance Corporation, which reviews the
applications, has given Congress until January 2008 to decide.
Read more at Reuters.com Government Filings News
No comments:
Post a Comment