ILCs

Not only did Walmart's bid for an industrial loan company galvanize bankers, it also turned the ILC world upside down.

More than a decade after Walmart’s unsuccessful banking bid, the core reasons to oppose nonbank conglomerates owning banks remain the same.

As the interest of fintech firms in the banking system brings a focus on the industrial bank charter once again to Washington, it is necessary to dispel a few misconceptions.

Critics of the industrial bank charter, as well as those who support more mixing of banking and commerce, describe the intent of industrial banks inaccurately.