ILCs are very similar to other banks, but they are the only type of bank charter that can be owned by a commercial firm.

After the applications from Wal-Mart — the world's largest retailer — and Home Depot attracted so much controversy, the FDIC announced last July that it would not accept or rule on any applications for six months while it studied the matter. At the end of that moratorium, the FDIC announced in January that it would extend the freeze an additional year and it pointedly asked Congress to clarify whether nonfinancial firms should be allowed to own banks.

FDIC Chairman Sheila Bair has suggested that another extension of this moratorium is not likely.

While its future ownership was in question, EnerBank spent much of last year growing. It held $147 million of assets at the end of 2006, up from just $86 million at the end of 2005.

EnerBank, which first received federal deposit insurance in 2002, offers fixed-rate, consumer loans for things such as window installations and kitchen remodeling. Home Depot has said it wants to use EnerBank to offer direct consumer loans through contractors.