Business, Legal & Accounting Glossary
Bank owned by a non-banking company under section 2(c)(2)(H) of the Bank Holding Company Act. In this arrangement while the bank is state-chartered and is constantly under the full watch of government regulators, its parent company (such as American Express, General Electric, General Motors) is not. Industrial banks raise their capital by selling investment certificates.
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This glossary post was last updated: 20th November, 2021 | 0 Views.