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Tuesday, November 25, 2014

FDIC to Consolidate Change in Bank Control Requirements

The FDIC is proposing a rule to consolidate its notice requirements when non-Fed-member state banks and state thrifts experience a change in control in a single subpart of the agency’s regulations. The rule would also align the FDIC’s requirements with “best practices” from the OCC and the Federal Reserve.

The rule would transfer a rebuttable presumption of control from the Change in Bank Control Act while adding a rebuttable presumption of acting in concert, consistent with Federal Reserve regulations. Comments on the proposal are due 60 days after publication in the Federal Register.

Read the proposed rule.

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