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WASHINGTON—The Independent Community Bankers of America is expressing its “strong support” for a bill that would close the loophole that allows industrial loan companies (ILCs) and their parent companies to “skirt regulatory oversight, endangering consumers and the economy.”

MENLO PARK, Calif.– Facebook is introducing a new payment system called Facebook Pay that will be deployed across its namesake solution as well as its Messenger, Instagram and WhatsApp apps.