The FDIC Should Not Allow Commercial Firms to Acquire Industrial Banks

摘要

For the reasons set forth above, the FDIC should withdraw the Proposed ILC Rule or postpone any further action on the Rule, until (1) the enormous problems caused by the COVID-19 pandemic have been successfully resolved, and (2) the FDIC has taken all of the steps required by the Administrative Procedure Act, as described in Part 4 above. The FDIC should not approve any additional acquisitions of commercial firms by ILCs until all of the foregoing actions have been completed.