A closer look at the ILC ‘loophole’ origin, opposition

The prospect of holding industrial loan companies (ILCs) to the same regulatory scrutiny as traditional financial institutions has been a source of heated contention among many banking industry advocates concerned with leveling the playing field in the marketplace. Independent Community Bankers of America Executive Vice President, Senior Regulatory Counsel Chris Cole explored the topic of ILCs in-depth while speaking with Dodd Frank Update.