ILCs

Parents of IBs are exempt from bank holding company supervision by the central bank, but that is a strength, not a weakness.

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

Many of the arguments in this debate have less to do with the applicants’ qualifications than with traditional banks’ fear of new, innovative competitors.

Readers opine on Square’s applying for an industrial loan company charter, the Federal Reserve’s role in faster payments, assumptions about operational security, and more.

Company is third fintech firm in the past few months to seek its own bank charter; vice chair’s departure gives Trump four vacancies to fill on the Federal Reserve Board.

The company's application, which is expected to be announced as early as Thursday, comes after the online lender SoFi applied in June for an industrial loan charter. The bank is expected to be led by a former Green Dot executive.

The debate over the separation of banking and commerce has come roaring back, but instead of Walmart in a spotlight role, many banks have centered on a player they see as the new villain: fintech.

Rep. Maxine Waters, D-Calif., is calling on the FDIC to hold a public hearing on SoFi's application for deposit insurance.

Readers weigh in on the tax-exempt status of credit unions, SoFi's application for an industrial loan company charter, ideas for mortgage policy reforms and more.

Acting Comptroller of the Currency Keith Noreika is using his short time in office to open a debate about the separation of banking and commerce, which he says is anti-competitive, stifles diversification and may limit regulators' options in times of crisis.