February 01, 2007

Statement of Senator Dodd, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, on FDIC Decision On ILC’s

“I recognize and respect the FDIC’s decision to extend for one year the moratorium on applications for ILC ownership by commercial entities and proposing rules that seek to strengthen the application process for ILC ownership by financial companies. This moratorium will allow the Senate Banking Committee time to carefully examine this issue, which we will do in a thoughtful and deliberative manner.”