The FDIC's moratorium holding up new industrial loan corporation (ILC) applications will expire at the end of January. The FDIC declared the moratorium to allow Congress the opportunity to weigh in on regulation of these financial institutions. However, while the House passed ILC regulatory legislation in 2007, the Senate has yet to act. Senate Banking Committee Chairman Chris Dodd (D-CT), fresh off his Presidential campaign, is said to be committed to moving legislation through his Committee. Senator Dodd has proposed a very restrictive bill and will have to start serious discussion with ILC defender Sen. Bob Bennett (R-UT) to pass any bill. With no legislation before the moratorium ends, the next move will be up to the FDIC.