The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Ford applies for industrial loan charter

Ford Motor Co. has applied to form a bank. 


Ford Credit Bank would operate under an industrial loan charter from Utah. Ford applied with the Federal Deposit Insurance Corp. on July 22 for deposit insurance. 

Toyota and BMW already have industrial banks. 

Ford Credit Bank would look to help customers finance vehicles, accept deposit and provide funding to the automaker, among other things.

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The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

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About the author

Paul Davis has 20+ years of experience following the banking industry. He is currently director of market intelligence at SRM, an advisory firm that operates in North America and Europe.

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