RadioDoc
58ef2c0
Premium,ExMod 2000-03
join:2000-05-11
 ·AT&T Midwest
| reply to Toguro
Re: Banc of AMERICA
It's an end-run around the banking regulations. A "bank" is regulated as to what it can and cannot do. A bank holding company, however can do whatever it wants as long as it doesn't call itself a "bank". So some clever marketing type coined "banc" for those names. Sounds the same on radio and TV and looks close enough in print. Since a Bank cannot own other banks these holding companies tend to call themselves RobberBaron Bancorp or RobberBaron Bancshares or something similar so as to not trip over that regulatory line.
Nice shell game, eh?
And to confuse things even more..."Banco Popular" is a Spanish name (for a Puerto Rico-based company), and "banco" is "bank" in Spanish. I wonder if banc is bancoc in Spanish... 
--
Toolmaster of La Grange.
For "Pompous Windbag", see 419381 |
