🏦Change in Bank Control Notices and Acquisitions Overview
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Summary
The Federal Reserve System announces changes regarding the acquisition of shares in banks and bank holding companies, detailing public disclosure requirements and the application process for prospective owners. It invites comments from interested individuals and outlines the criteria for approvals under the Change in Bank Control Act, ensuring transparency and accountability in financial acquisitions.
Agencies
- Federal Reserve System
Business Impact
$$$ - High
The notice under the Change in Bank Control Act outlines the application process for acquiring shares of banks or bank holding companies, which directly affects business owners in the financial sector looking to understand regulatory compliance and potential ownership changes. It emphasizes the need for transparency and public disclosure, impacting business operations.