The Federal Reserve System announced that several companies have applied for approval to become bank holding companies or to acquire control of banks or other bank holding companies, as per the Bank Holding Company Act of 1956. These applications, including one from St. Laurent Investments LLC to acquire People's Bank of Commerce in Oregon, are available for public inspection. Interested individuals can submit their comments by February 25, 2021. The applications can be reviewed at the respective Federal Reserve Banks and online for those seeking more information.
Simple Explanation
Some companies want to be in charge of banks or join up with other banks, and they asked for permission to do this. People can look at these requests and tell what they think until February 25, 2021.