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Federal Reserve Bank of Chicago
Economic Perspectives
A bank by any other name ...
Christian A. Johnson
George G. Kaufman

“Banks” are regulated by the government. However, because the generic term bank applies to a number of different types of financial institutions that provide different services, different types of regulation are required. This issue has attracted much attention in recent years as nonfinancial firms—including Wal-Mart—attempted to obtain a “bank.” This article traces changes in the definition of the term commercial bank for the purposes of regulation and discusses the implications for one type of “bank”: industrial loan companies.

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Christian A. Johnson & George G. Kaufman, "A bank by any other name ..." , Federal Reserve Bank of Chicago, Economic Perspectives, issue Q IV, pages 37-49, 2007.
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Keywords: Banks and banking ; Bank holding companies ; Federal Deposit Insurance Corporation
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