Search Results for keywords:"Federal Reserve Banks"

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Search Results: keywords:"Federal Reserve Banks"

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  • 2021-02230 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 8013
    Reading Time:about a minute or two

    The Federal Reserve System announced that several companies have applied to either engage in new nonbanking activities or acquire companies involved in such activities, as permitted under the Bank Holding Company Act and Regulation Y. These activities can be carried out directly or through subsidiaries. The public can review the applications at designated Federal Reserve Banks or related online resources, and is invited to submit comments until February 18, 2021. An example of a company pursuing this is New Republic Partners, Inc. from North Carolina, which plans to start financial and investment advisory services through a wholly-owned subsidiary.

    Simple Explanation

    Some big companies want to do new stuff that banks can do, like helping people with money advice. The Federal Reserve is looking at their plans and is asking people to say what they think about these plans by February 18, 2021.

  • 2025-03785 — Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
    Type:Notice
    Citation:90 FR 11607
    Reading Time:about 2 minutes

    The Federal Reserve System has received applications from individuals and groups who want to acquire shares in banks or bank holding companies. These applications are reviewed under the Change in Bank Control Act, and the public can view them at the respective Federal Reserve Banks or online. Comments from the public are welcome but should not include confidential details, as they will be made publicly available. Two specific applications have been mentioned: one involving trustees retaining shares in Community Financial Services in Kentucky, and another concerning individuals joining a family group to acquire shares in Carlson Bankshares in Minnesota.

    Simple Explanation

    The Federal Reserve is looking at requests from people who want to own parts of banks, just like you might share toys with your friends. They want to make sure everything is fair, and people can tell the Federal Reserve what they think, just like when you talk about sharing rules in kindergarten.

  • 2021-00184 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:86 FR 1111
    Reading Time:about a minute or two

    The Federal Reserve System is considering applications from companies that want to become or acquire bank holding companies under the Bank Holding Company Act of 1956. The notice mentions that these applications are available for public review at the selected Federal Reserve Banks and online. Comments from the public regarding these applications must be submitted by February 8, 2021. An example applicant listed is Marathon MHC and Marathon Bancorp, Inc. from Wisconsin, which seeks to acquire Marathon Bank as part of a transition from a mutual to a stock form.

    Simple Explanation

    The people at the Federal Reserve are looking at companies that want to own banks. They are asking folks to share their thoughts by February 8, 2021, but it's not clear how that works.

  • 2021-03048 — Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 9505
    Reading Time:about a minute or two

    The Federal Reserve System has announced that certain companies have indicated their plans, under the Bank Holding Company Act, to engage in nonbanking activities or to acquire nonbanking companies. These activities are permissible and related to banking, as outlined in Regulation Y. Public portions of these applications can be reviewed at the specified Federal Reserve Banks and comments from the public are encouraged, to be submitted by March 3, 2021. One noted application involves Hyperion Bancshares, Inc., aiming to acquire a mortgage company and engage in credit activities.

    Simple Explanation

    Some banks want to do more business with other companies that aren't banks, and this is mostly okay to do. People can look at what the banks are planning and tell the Federal Reserve what they think by March 3rd, 2021.

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