Friday, January 16, 2009
Fed Approves Protective Life as Bank Holding Co.
The Federal Reserve on Thursday approved Protective Life Corp., an insurance and financial services firm, as a bank holding company.
The change gives Protective Life assess to the Fed's emergency lending program if it needed a quick source of cash. It also would help make the company eligible to try to tap the Treasury Department's $700 billion financial bailout program.
Fed Approves Protective Life as Bank Holding Co.
Source: NY Times
The change gives Protective Life assess to the Fed's emergency lending program if it needed a quick source of cash. It also would help make the company eligible to try to tap the Treasury Department's $700 billion financial bailout program.
Fed Approves Protective Life as Bank Holding Co.
Source: NY Times
Permalink posted by armandn @ 10:33 AM 
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