Wednesday, May 28, 2003


Industrial Loan Corporations
London Times weighs in on the United States issue of allowing institutions other than banks to offer banking services. Several governors of the Federal Reserve, including head Alan Greenspan, oppose allowing ILAs (most often incorporated in Utah because of sympathetic laws) and other institutions, such as Wal-Mart to offer these services. The Times reports that this battle is about problems with regulating these "pseudo-banks", but is also about the Fed protecting its turf.comments or questions [] 9:08:27 AM