The American Financial Services Association (AFSA) welcomes the approval of Industrial Loan Company (ILC) applications, including those for GM Financial Bank and Ford Credit Bank.
That the Federal Deposit Insurance Corporation has resumed the processing and approval of industrial bank applications under the leadership of Chairman Travis Hill is good news for consumers and the vehicle finance industry. After years of regulatory uncertainty, movement on these applications is a positive step for innovation and competition in consumer financial services.
Industrial banks—often called auto banks in the vehicle finance context—are proven, vital institutions that are important for both consumers and the companies they are a part of. For consumers, these institutions expand access to competitive financing options, often providing specialized products tailored to vehicle purchases and leases, while driving better rates, more flexible terms, and improved customer service across the market.
For vehicle finance companies, industrial bank charters offer a stable, federally regulated framework that enhances their ability to serve customers efficiently while maintaining strong capital and consumer protection standards. The charter enables captive finance companies to operate with greater certainty, invest in technology and service improvements, and better manage funding costs—benefits that ultimately flow to consumers in the form of better pricing and expanded credit availability.
“As AFSA has noted in its vehicle finance economic impact study, the vehicle finance sector is a cornerstone of the American economy, facilitating millions of vehicle transactions annually and supporting the broader automotive industry’s contribution to jobs, economic growth, and mobility,” said AFSA President and CEO, Celia Winslow. “Industrial banks play an essential role in this ecosystem, and their continued availability strengthens the entire industry’s capacity to serve American families and businesses.”
AFSA looks forward to the FDIC’s continued progress on pending applications and commends Chairman Hill’s commitment to moving these important decisions forward in a thoughtful, thorough manner.
FDIC Approves Industrial Bank Applications
Jan 22, 2026
The American Financial Services Association (AFSA) welcomes the approval of Industrial Loan Company (ILC) applications, including those for GM Financial Bank and Ford Credit Bank.
That the Federal Deposit Insurance Corporation has resumed… Read the rest
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THIS THURSDAY | AFSA Webinar | 2026 Consumer Lending Predictions: The AI Power Shift That Will Redefine the Industry—Whether We’re Ready or Not
Jan 20, 2026
2026 Consumer Lending Predictions: The AI Power Shift That Will Redefine the Industry—Whether We’re Ready or Not
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Extra Credit Podcast | AI in Financial Services w/ Sigmoid Analytics
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Happy New Year! The AFSA Extra Credit Podcast is back with fresh perspectives, best practices and great conversations with consumer credit industry leaders
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AFSA Webinar | 2026 Consumer Lending Predictions: The AI Power Shift That Will Redefine the Industry—Whether We’re Ready or Not
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The consumer and auto finance industry is standing on the edge of its most radical transformation… Read the rest
The New Fraud Playbook | 2026 Vehicle Finance Conference & Expo
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Vehicle finance fraud is escalating, with AI serving as both weapon and defense. This session examines the growing fraud trends, from synthetic identities to fake documentation and bust outs, while exploring how lenders can deploy tools… Read the rest
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Join us for a fast-paced discussion where these industry leaders pull back the curtain on what they are seeing in today’s marketplace … and tomorrow’s.
Discover the strategies they’re using to navigate disruption in the market… Read the rest
On Price Controls and Affordability
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There are few trade associations with a track record of helping American consumers at every level of the financial spectrum through challenging economic times than the American Financial Services Association. For more than 100 years AFSA… Read the rest
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Join us on Monday, February 2nd to hear from our 2026 Vehicle Finance Conference & Expo keynote speaker, Alison Levine, a preeminent business leadership expert, Alison Levine, mountaineer and polar explorer, faculty member at the Thayer… Read the rest
January White Paper: Review and Preview
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AFSA’s State Government Affairs team released its latest white paper, which provides a 2026 State Legislative Session preview and 2025 year-in review.
The 2026 State Legislative agenda is focused on such emerging issues as Artificial… Read the rest