United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2005-09-15 monographic deposited born digital 104 p. GA 1.13:GAO-05-621 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-621 P0b002ee18039b15b f:d05621 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-05-621 machine generated eng fdlp REPORT GAOREPORTS-GAO-05-621 GAO-05-621 Bank management Banking law Banking regulation Comparative analysis Federal regulations Financial institutions Lending institutions Regulatory agencies Other Written Product A36857

Industrial loan corporations (ILC) emerged in the early 1900s as small niche lenders that provided consumer credit to low and moderate income workers who were generally unable to obtain consumer loans from commercial banks. Since then, some ILCs have grown significantly in size, and some have expressed concern that ILCs may have expanded beyond the original scope and purpose intended by Congress. Others have questioned whether the current regulatory structure for overseeing ILCs is adequate. This report (1) discusses the growth and permissible activities of ILCs and other insured depository institutions, (2) compares the supervisory authority of the Federal Deposit Insurance Corporation (FDIC) with consolidated supervisors, and (3) describes ILC parents' ability to mix banking and commerce. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-621/html/GAOREPORTS-GAO-05-621.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-621/pdf/GAOREPORTS-GAO-05-621.pdf GAO-05-621 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-621 Other Written Product GAO-05-621; Industrial Loan Corporations: Recent Asset Growth and Commercial Interest Highlight Differences in Regulatory Authority; Bank management Banking law Banking regulation Comparative analysis Federal regulations Financial institutions Lending institutions Regulatory agencies Title 12 Section 1819(a)(Seventh) Title 12 Section 1820(b)(4)(A) Title 12 Section 1831a(a) Title 12 Section 1831v(b) Title 12 Section 1844(c)(1)(C) 12 U.S.C. 1819(a)(Seventh) 12 U.S.C. 1820(b)(4)(A) 12 U.S.C. 1831a(a) 12 U.S.C. 1831v(b) 12 U.S.C. 1844(c)(1)(C) Volume 82 Page 5 82 Stat. 5 Public Law 84-511 Public Law 90-255 Public Law 97-320 Public Law 106-102