Type:Notice
Citation:90 FR 9628
Reading Time:about a minute or two
The Federal Reserve System is reviewing applications from individuals seeking to acquire shares in a savings and loan holding company under the Change in Bank Control Act. Interested parties can view application details at select Federal Reserve Banks and submit comments or concerns by March 3, 2025. Public comments will be fully disclosed and may include personal or business information. The notice specifically mentions an application by Jeffrey A. Schumacher and John Schumacher to retain voting shares of American Federal Corporation and American Federal Bank in North Dakota.
Simple Explanation
The Federal Reserve is checking if some people can buy pieces of a bank company. Everyone can see these plans and say what they think before a certain date.