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FDIC approves ILC charters, proposes new rule
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Banking
Friday, March 27, 2020
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The Federal Deposit Insurance Corp. recently approved a pair of industrial loan companies (ILCs) even as the regulator put out a proposal for a new rule concerning the approval of ILCs.
The FDIC granted charters to Nelnet Inc. and Square Financial Services, the first approvals from the FDIC in more than a decade.
Read on for more details of the approval and the proposed rule on future ILC charters.
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