Type:Notice
Citation:86 FR 92
Reading Time:about 2 minutes
The Federal Reserve System announced that individuals and groups have submitted applications to acquire shares of banks or bank holding companies, as outlined in the Change in Bank Control Act. These applications are being reviewed based on specific factors detailed in the Act. The public can view these applications and related documents at certain Federal Reserve Bank locations or online. Comments on the applications must be submitted by January 19, 2021.
Simple Explanation
The Federal Reserve is checking if people can buy big pieces of banks. They want to make sure everything is safe and fair, so people can say what they think about it until January 19, 2021.