Search Results for citation:"90 FR 16876"

The Federal Reserve System has announced that several companies plan to engage in or acquire businesses involved in nonbanking activities, as outlined in Section 4 of the Bank Holding Company Act and Regulation Y. The public can review applications and submit comments about compliance with the Act’s standards until May 7, 2025. For example, Cypress Capital Group, Inc. in Palm Beach, Florida, is looking to start offering credit and loan services. Comments and inquiries can be directed to the Federal Reserve Bank offices or submitted electronically.

The Federal Reserve System has issued a notice about applications from companies seeking to become bank holding companies or to acquire other banks or bank holding companies. These applications are filed under the Bank Holding Company Act of 1956, and interested parties can view the public portions of these applications at specific Federal Reserve Banks and online. The notice specifies that comments about the applications must be submitted in writing by May 22, 2025, and reminds the public that comments will generally be made available as part of the public record. One of the noted applications involves Fleur Capital Corporation aiming to acquire Simmesport State Bank in Louisiana.

The Federal Reserve System has received applications from individuals in Albany, Georgia, associated with the Smith Family Group, to retain shares in Dawson Bancshares, Inc., and indirectly retain shares in the Bank of Dawson. These applications are under review as part of the Change in Bank Control Act. Public comments on these applications are invited and can be sent to the Federal Reserve Bank of Atlanta by May 7, 2025. All comments become part of the public record and should not include confidential information.