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Colorado was the last state in the country to require industrial banks to get Federal insurance.
None of the 14 troubled industrial banks have actually been closed.
He said it was slow to respond to the industrial banks' difficulties.
Target runs a credit card with an industrial bank.
But in recent years, the industrial banks have faced intense competition from a wide array of financial institutions.
In addition, Colorado's depressed real estate economy has squeezed the industrial banks' mortgage business.
The first industrial banks were established in the 1920's and are hybrid institutions that served less-credit-worthy individuals.
In subsequent years the building served in part or whole as a hotel, offices, industrial bank, and student housing.
Only a handful of states have industrial bank charters that can be owned by nonbanks.
The regulators ordered other industrial banks that did not have Federal deposit insurance to stop accepting deposits.
Thus, Industrial Bank of Japan is being asked to put up 17 billion yen.
Colorado regulators hope to return 80 cents for every dollar of deposits after the 14 industrial banks' loans are sold.
Both houses of the State Legislature have approved a bailout bill for the industrial banks.
For example, Citicorp, which once owned eight industrial banks, has converted them to consumer finance offices.
Many Colorado industrial banks have been converted to federally insured commercial banks.
The prototypes of the programs you use to crack industrial banks were developed for Screaming Fist.
He served as president and attorney of the Industrial Bank of Lexington.
But Franklin has something else that is valuable to Wal-Mart: an industrial bank charter.
Wal-Mart is also awaiting approval from Utah, one of the few states that allows retailers to open industrial banks.
His father was a founder of the Modern Industrial Bank in New York.
But upon learning that savings in those industrial banks had been frozen, panicked depositors have flooded the state banking commission with telephone calls.
Four industrial banks ended up filing for Federal Bankruptcy Court protection in Denver.
Some financial institutions, like investment banks or industrial banks, may take up the promotion of a company with a view to finding opportunities for investment.
The Economy A plan to repay thousands of depositors at 14 industrial banks in Colorado faces rough going.
The state's remaining 75 industrial banks have Federal Deposit Insurance, guarantees from other corporations, or do not take deposits.