Shareholder James Sheriff Quoted in Wisconsin Banker Article
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James Sheriff, a shareholder in Reinhart's Banking and Finance Practice, was recently quoted in an article titled "ILCs: Fad or the Future?," published by the Wisconsin Banker. The article examines the renewed interested in industrial loan charters (ILC), and its pros and cons. Sheriff noted that, “One of the biggest attractions of an ILC is the federal pre-emption it offers. Instead of 50 state regulators examining your consumer finance company, there’s one state and the FDIC,” and "The industrial loan charter allows commercial companies (i.e., BMW, General Motors, Target, etc.) to own financial institutions that can take federally insured deposits.”