On Thursday, the Federal Deposit Insurance Corporation granted deposit insurance to Ford Motor Company’s newly formed industrial bank, greenlighting the automaker’s expansion into direct financial services. The approval, secured alongside a similar nod for General Motors, allows Ford to accept customer deposits, underwrite vehicle loans and offer savings products through its financial arm. Ford’s industrial bank will operate under the FDIC’s full insurance framework, protecting depositors up to the standard $250,000 limit. By integrating banking services in-house, Ford aims to streamline credit approval for vehicle purchases and reduce reliance on third-party lenders. The move follows a multi-year regulatory review and positions Ford to capture a larger share of auto financing revenue, estimated at $30 billion annually across the U.S. automotive sector.