![[Home]](/images/navigation/home.gif)
![[Banking]](/images/navigation/banking.gif)
![[Community Development]](/images/navigation/community_development.gif)
![[Newsroom]](/images/navigation/on/newsroom.gif)
![[Education Resources]](/images/navigation/education_resources.gif)
![[Publications]](/images/navigation/publications.gif)
![[About Us]](/images/navigation/about_us.gif)
![[Research]](/images/navigation/research.gif)
All News
October 29
Industrial Loan Companies: An Interview with Fed Economist William Emmons
Wal-Mart's application last year to operate its own industrial loan company (ILC) sparked a firestorm that's yet to die down.
- Why do some bankers feel threatened?
- Why shouldn't Wal-Mart's customers save on financial services, too?
- Is there any risk for taxpayers?
Hear the answers to these questions and more in a 17-minute interview with William Emmons, senior economist in the Banking Supervision and Regulation Division of the St. Louis Fed.
Additional Information
- Testimony in Congress by the Fed's general counsel
- Fed Gov. Donald Kohn's testimony in Congress in which he outlines the Fed's opposition to the ILC charter as currently configured
- Comments from St. Louis Fed President William Poole in his April 2006 column in The Regional Economist
- FDIC's announcement of a freeze on applications for deposit insurance by industrial loan companies
