Public Comment Re: Parent Companies of Industrial Banks and Industrial Loan Companies, RIN 3064-AF31, 12 CFR 354

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To Whom It May Concern:

I appreciate the opportunity to comment on the Federal Deposit Insurance Corporation’s (FDIC) Notice of Proposed Rulemaking for Parent Companies of Industrial Banks and Industrial Loan Companies (Proposed Rule).

The Cato Institute is a public policy research organization dedicated to the principles of individual liberty, limited government, free markets, and peace. Cato’s Center for Monetary and Financial Alternatives, of which I am an associate director, is dedicated to revealing the shortcomings of today’s centralized, bureaucratic, and discretionary monetary and financial regulatory systems and to identifying, studying, and promoting alternatives more conducive to a stable, flourishing, and free society.

I congratulate Chairman McWilliams and the FDIC Board for their efforts to make explicit the criteria that the FDIC will follow when deciding whether to approve industrial bank applications.

Diego Zuluaga

Diego Zuluaga is a Policy Analyst at the Center for Monetary and Financial Alternatives at the Cato Institute.