14 Feb 2025
🏦Notice of Nonbanking Activity Proposals by Federal Reserve
Notice of Proposals To Engage In or To Acquire Companies Engaged in Permissible Nonbanking Activities
Summary
The Federal Reserve System has issued a notice regarding companies seeking to engage in permissible nonbanking activities under the Bank Holding Company Act. The notice provides information on public comments about these proposals and details specific activities that companies, such as WaFd, Inc., intend to pursue as they expand their services.
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The notice outlines proposals from companies, including WaFd, Inc., to engage in nonbanking activities that are permissible under the Bank Holding Company Act. This could open new avenues for bank holding companies to expand services, impacting strategic planning and compliance for related businesses.