The Federal Deposit Insurance Corporation (FDIC) Board of Directors has approved a request for information (RFI) to gather input from interested parties regarding the review process for filings submitted by industrial banks and industrial loan companies. This initiative aims to enhance the FDIC’s evaluation of statutory factors, taking into account the distinct characteristics of industrial bank business plans and the diverse range of companies that may wish to establish such banks in today’s market.
In addition, the FDIC Board has decided to withdraw a proposed rule intended to amend Part 354 of its rules and regulations concerning parent companies of industrial banks and industrial loan companies. This proposal was initially published on August 12, 2024. The FDIC no longer plans to issue a final rule on this matter but may consider future regulatory actions if necessary.
Interested parties are invited to submit their comments on the RFI within 60 days following its publication in the Federal Register.
