fed speech, 2006-03-01
In addition, due to the limited restrictions that apply under federal law to the ILCs operating under this exemption, an exempt ILC legally may engage in the full range of commercial, mortgage, credit card and consumer lending activities; offer payment-related services, including Fedwire, automated clearing house (ACH) and check clearing services, to affiliated and unaffiliated persons; and accept time and savings deposits, including certificates of deposit (CDs), from any type of customer.
Sentiment: neutral
Topic: governance