Ford Motor (NYSE:F)
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3 Anos : February 2009 para February 2012
 Ford Motor Co. (F) and other companies with pending applications to own their own industrial banks would be grandfathered in from congressional attempts to eliminate the bank-like charter.
The House Financial Services Committee on Wednesday approved an amendment offered by Rep. Gary Peters (D-Mich.) that would allow the Federal Deposit Insurance Corp. to review pending applications from companies seeking to own their own industrial loan corporation. These are bank-like firms that can be owned by commercial companies, including a number of auto makers.
Rep. Barney Frank (D, Mass.) said the amendment would allow companies such as Ford and Deere & Co. (DE) get rulings on their pending applications, creating an equal playing field with those companies that have already had their applications approved.
The ILC issue represents a long-running debate in Congress, where a number of lawmakers favor creating a high wall between banking and commerce. The House of Representatives has made repeated attempts to roll back the ILC charter, but to no avail because of the opposition of key senators in the Senate.
-By Michael R. Crittenden, Dow Jones Newswires; 202 862 9273; michael.crittenden@dowjones.com
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