The Federal Reserve System has received applications from a group wanting to acquire shares in a bank or bank holding company. These applications are under review according to the Change in Bank Control Act and related regulations. The applications are available for public inspection and comments are welcome but should not include confidential information. Comments must be submitted by December 26, 2024, to the specified Federal Reserve Bank or the Board of Governors in Washington, DC.
Simple Explanation
The Federal Reserve is checking if a group can buy parts of a bank. People can say what they think about this, but they shouldn't share secrets in their comments.