July 1, 2020 — Comments

Consumer and civil rights groups write to strongly oppose the Federal Deposit Insurance Corporation (FDIC)’s proposed rule on Parent Companies of Industrial Banks and Industrial Loan Companies (proposal or proposed rule) as well as the agency’s approval of new ILC charters. While these actions raise a number of concerns, our comments focus on the dramatic and inappropriate expansion of federal interest rate preemption the rule and additional ILC charters would precipitate.