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Comments due: FDIC (proposed rule; industrial banks, industrial loan companies)

July 1

The Federal Deposit Insurance Corporation is seeking comment on a proposed rule that would require certain conditions and commitments for each deposit insurance application approval, non-objection to a change in control notice, and merger application approval that would result in an insured industrial bank or industrial loan company becoming, after the effective date of any final rule, a subsidiary of a company that is not subject to consolidated supervision by the Federal Reserve Board. (The comment deadline was originally June 1; it was extended 30 days under a Federal Register notice May 27.)

Reg lookup: Parent Companies of Industrial Banks and Industrial Loan Companies


July 1
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