The Federal Reserve System published a notice regarding companies planning to engage in permissible nonbanking activities. These activities are under section 4 of the Bank Holding Company Act and Regulation Y. The notice includes information on how the public can view the applications and submit comments. Specifically, it mentions that the Caisse Fédérale de Crédit Mutuel and its subsidiaries intend to engage in financial and investment advisory activities in the United States through their subsidiary, Transatlantique Private Wealth LLC.
Simple Explanation
The Federal Reserve System shared a notice about some companies wanting to offer money advice services in the U.S. It mentions a particular company called Transatlantique Private Wealth LLC, which plans to do this through its parent, Caisse Fédérale de Crédit Mutuel.