The Federal Reserve System has announced that certain companies are seeking approval to become bank holding companies or acquire control of existing banks or bank holding companies. These applications are available for public inspection at specified Federal Reserve Banks and online. Interested individuals can submit written comments on these applications, which must be received by February 16, 2021. One noteworthy application is from SBWY Financial Corporation in Evanston, Wyoming, to acquire State Bank in Green River, Wyoming.
Simple Explanation
Some companies want to become big bosses of banks, and they need permission from a group called the Federal Reserve System. People can look at these plans and say what they think, but they need to send their opinions before a special date in February.