Home Depot hires ILC lobbyist
Home Depot has hired Alpine Group, a Washington, D.C., lobbying firm, in its attempt to obtain industrial loan company (ILC) status, according to the Associated Press. The firm has registered as a lobbyist on the issue of regulation and supervision of ILCs, which can make loans, issue credit and perform other financial services under a federal charter.
Wal-Mart and Home Depot have both sought ILC status, but were stymied last year when the U.S. House of Representatives passed a bill prohibiting new ILC charters. A similar bill has been introduced in the Senate.