Search Results for keywords:"Bank Holding Company Act"

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Search Results: keywords:"Bank Holding Company Act"

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  • 2024-30727 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:89 FR 105048
    Reading Time:about a minute or two

    The Federal Reserve System has released a notice regarding companies that have applied to become bank holding companies or to acquire control over banks or other bank holding companies. These applications are being processed under the Bank Holding Company Act. People can view the public parts of these applications at certain Federal Reserve Banks and the Board of Governors' offices, or request them online. The public can submit comments on these applications until January 27, 2025, but should avoid including confidential information in their submissions.

    Simple Explanation

    The Federal Reserve is letting everyone know that some companies want to become owners of banks, and they are asking people to share their thoughts about this until January 27, 2025. You can look at these requests online, but be careful not to share any secrets when you tell them what you think.

  • 2020-29033 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:86 FR 98
    Reading Time:about a minute or two

    The Federal Reserve System has received applications from certain companies to either form bank holding companies or acquire control of existing banks. These applications, submitted under the Bank Holding Company Act of 1956, are available for public viewing at specified Federal Reserve Banks and online. The public can submit comments on these applications by February 3, 2021. An example is St. Holdings, Inc. from Orlando, Florida, aiming to acquire shares of Rochelle State Bank in Georgia.

    Simple Explanation

    The Federal Reserve got some forms from companies who want to either start new banks or take over existing ones, and people can look at these forms and say what they think until February 3, 2021.

  • 2021-01075 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:86 FR 5196
    Reading Time:about a minute or two

    The Federal Reserve System has announced several applications for review involving bank holding companies. These applications, governed by the Bank Holding Company Act, include Huntington Bancshares Incorporated's plan to acquire TCF Financial Corporation and First Cahawba Bancshares, Inc.'s proposal to become a bank holding company by acquiring First Cahawba Bank. Interested parties can review the applications and submit their comments to the respective Federal Reserve Banks or the Board of Governors by February 18, 2021.

    Simple Explanation

    The Federal Reserve, which helps keep banks in check, announced that one big bank wants to buy another, and another small company wants to become a bank by buying a tiny bank. People can say what they think about these changes until February 18, 2021.

  • 2021-03952 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:86 FR 11775
    Reading Time:about a minute or two

    The Federal Reserve System has announced that several companies are applying to become bank holding companies or to acquire control over banks or bank holding companies. These actions are in accordance with the Bank Holding Company Act and related regulations. One such application is from Sunstate Bancshares, Inc., which aims to acquire Sunstate Bank in Miami, Florida. Public comments on these applications need to be submitted by March 29, 2021, addressed to the specific Federal Reserve Bank or the Board of Governors in Washington, DC.

    Simple Explanation

    In this notice, the Federal Reserve is talking about companies like Sunstate Bancshares wanting to own or take control over banks. People can say what they think by sending a letter before March 29, 2021.

  • 2025-01033 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:90 FR 4742
    Reading Time:about a minute or two

    The Federal Reserve System has released a notice regarding certain companies planning to engage in or acquire companies involved in nonbanking activities, as permitted under the Bank Holding Company Act and Regulation Y. The activities are considered closely related to banking and will be conducted across the United States. The public can inspect the applications at certain Federal Reserve Banks or contact the Board's Freedom of Information Office for expedited requests. Comments from the public are invited and must be submitted by January 31, 2025, to the appropriate offices of the Federal Reserve System.

    Simple Explanation

    The Federal Reserve System is letting people know about some companies that want to start doing things like banks do, even if they are not banks. They want people to look at their plans and say what they think about it by January 31, 2025.

  • 2024-31415 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:89 FR 107142
    Reading Time:about a minute or two

    The Federal Reserve System issued a notice about companies applying to become bank holding companies or acquiring control over bank-related assets under the Bank Holding Company Act of 1956. The notice mentions that the applications are available for public inspection at specified Federal Reserve Banks and on the Federal Reserve's website. Comments on these applications can be submitted by January 30, 2025. An example noted is River Run Bancorp, MHC of Newburyport, Massachusetts, which plans to merge with Rollstone Bancorp, MHC to acquire Rollstone Bank & Trust in Fitchburg, Massachusetts.

    Simple Explanation

    The big bank bosses are talking about joining forces or buying other banks, and they want to make sure everyone knows about it. People have until the end of January 2025 to say what they think about these plans.

  • 2021-01893 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 7382
    Reading Time:about a minute or two

    The Federal Reserve System has issued a notice regarding proposals by companies to engage in or acquire nonbanking activities that are permissible under the Bank Holding Company Act. The notice invites the public to review and comment on these applications, which are available for inspection at specified Federal Reserve Banks. Comments must be submitted by February 12, 2021. One of the proposals involves First Citizens Bancshares, Inc., seeking to acquire shares in companies engaging in credit and loan servicing activities.

    Simple Explanation

    The Federal Reserve wants people to know that some companies are asking to do fun bank-like things that don’t involve actually being a bank, like helping with loans. They want everyone to check these ideas out and say what they think before February 12, 2021.

  • 2025-02658 — Notice of Proposals To Engage In or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:90 FR 9628
    Reading Time:about 2 minutes

    The Federal Reserve System has announced a notice under section 4 of the Bank Holding Company Act. This details the plans of some companies to engage in or acquire businesses conducting nonbanking activities, which are permissible for bank holding companies. The notice specifically mentions WaFd, Inc., a company based in Seattle, Washington, which intends to start new ventures offering financial and investment advisory services as well as trust company functions. Comments from the public are invited, with a deadline of March 3, 2025, and these comments will be publicly accessible except for any confidential information.

    Simple Explanation

    The Federal Reserve System is letting people know that a company called WaFd, Inc. wants to start new businesses in giving advice about money and handling trusts. People can say what they think about this idea until March 3, 2025.

  • 2025-03380 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:90 FR 11051
    Reading Time:about a minute or two

    The Federal Reserve System has announced a notice concerning several companies seeking approval to become bank holding companies or to acquire control of banks or bank holding companies. These applications are submitted under the Bank Holding Company Act and related regulations. The public can view the applications and related documents at specified Federal Reserve Banks and the Board of Governors' offices. Comments from the public are welcomed but must be submitted by April 2, 2025, and should not include any confidential information that shouldn't be publicly disclosed.

    Simple Explanation

    Some companies want to be bosses of banks, and they need permission to do that. The Federal Reserve is thinking about their requests, and people can say what they think until April 2, 2025.

  • 2021-02764 — Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
    Type:Notice
    Citation:86 FR 8909
    Reading Time:about a minute or two

    The Federal Reserve System has issued a notice mentioning companies that want to start or acquire nonbanking businesses related to banking, as allowed by the Bank Holding Company Act. These activities will take place across the United States, and the applications are open for public inspection. People can submit their opinions in writing about whether these proposals meet legal standards by February 25, 2021. One specific case mentioned is the McIntosh County Bank Holding Company seeking to retain shares in AccuData Services and engage in data processing activities.

    Simple Explanation

    The Federal Reserve wants to let people know that some companies plan to start or buy other companies that do things related to banking but aren't banks, like handling data. People can say what they think about this by writing to them by February 25, 2021.

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