The Federal Reserve System has received applications from individuals and groups seeking to acquire shares of banks or bank holding companies under the Change in Bank Control Act. In the Chicago region, the Brady Family Control Group intends to acquire shares of Community Financial Corp. and Community Savings Bank in Iowa. Meanwhile, in the Kansas City region, the Whitham Family Control Group plans to acquire shares of Whitcorp Financial Company and its associated banks in Kansas and Colorado. The public can view these applications and submit comments by a specified deadline, which will be publicly disclosed.
Simple Explanation
The Federal Reserve received requests from families in different areas to buy parts of banks, and people can tell the Fed what they think about these requests, but they need to be careful not to share any private information.