A banking structure once pursued by corporate giants like Walmart is poised for a comeback thanks to new rules that could attract tech companies such as Amazon or Facebook looking to get a foothold in finance.
The Federal Deposit Insurance Corporation approved final regulations for “industrial loan companies” to get deposit insurance as part of a bank charter application. The rules require parent corporations to enter into agreements with the FDIC on capital and liquidity levels for their proposed banking units, and take other steps to maintain safe and sound operations.
The move comes amid renewed interest for the special ...
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