Original Content
Both automakers must stand up their respective banks within 12 months. After that, they must maintain a minimum 15% tier 1 leverage ratio.
FDIC conditionally approves Ford, GM ILC charters
AI Summary
Both automakers must establish their banks within 12 months and maintain a minimum 15% tier 1 leverage ratio thereafter; this does not explicitly mention Texas but could have broader implications for compliance practices.
Texas Relevance
The article does not specifically mention Texas, TCUD, or any Texas-specific entities. The information is more broadly applicable to credit unions nationwide.