The Federal Reserve System has received applications under the Change in Bank Control Act for individuals in the Gerber family to acquire voting shares of Chippewa Valley Agency, Ltd., and Chippewa Valley Bank in Hayward, Wisconsin. The applications are available for public inspection and comments, which are subject to public disclosure, can be submitted by December 18, 2024, to the Federal Reserve Bank of Minneapolis or the Board of Governors in Washington, DC. Interested individuals are warned to avoid including confidential information in their comments.
Simple Explanation
Imagine a family wants to buy part of a bank, and they ask the important bank bosses for permission. The bank bosses tell everyone about this and say to the people, "Hey, if you have anything to say about it, let us know by December 18, but remember that anything you say will be shared with others.”