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A bank by any other name ..


  • Christian A. Johnson
  • George G. Kaufman


“Banks” are regulated by the government. However, because the generic term bank applies to a number of different types of financial institutions that provide different services, different types of regulation are required. This issue has attracted much attention in recent years as nonfinancial firms—including Wal-Mart—attempted to obtain a “bank.” This article traces changes in the definition of the term commercial bank for the purposes of regulation and discusses the implications for one type of “bank”: industrial loan companies.

Suggested Citation

  • Christian A. Johnson & George G. Kaufman, 2007. "A bank by any other name ..," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q IV, pages 37-49.
  • Handle: RePEc:fip:fedhep:y:2007:i:qiv:p:37-49:n:v.31no.4

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