Comments about ‘State regulators check health of Utah-based GMAC Bank’
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this is such a poorly written non-story. There is no such thing as an industrial loan commission. It's industrial loan company, and under state statute, they are called industrial banks.
the fact that the state is conducting a safety and soundness examination is a major NON-STORY. The state examines EVERY state-chartered bank every 12 to 18 months, including industrial banks. Exams of state chartered banks are conducted jointly by the state and either the FDIC or the Federal Reserve, depending on whether or not the bank is a member of the Federal Reserve system. The fact that an exam is being conducted is no more news than traffic lights changing from red to green to yellow. Quit trying to induce panic to sell newspapers!
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