The Federal Reserve System has received applications under the Change in Bank Control Act from various individuals from Kuwait wishing to acquire shares in Greater Pacific Bancshares. This acquisition would also allow them to indirectly hold shares in the Bank of Whittier, based in California. The applications are open for public inspection at the Federal Reserve Bank of San Francisco and the offices of the Board of Governors. Interested parties have until March 15, 2021, to share their views in writing about these applications.
Simple Explanation
The Federal Reserve is letting people know that some folks from Kuwait want to buy parts of a company that owns a small bank in California. People can say what they think about it by sending letters until March 15, 2021.