FDIC approves proposed rule under Change in Bank Control Act

The Federal Deposit Insurance Corporation Board of Directors voted 3-2 to approve a notice of a proposed rulemaking that would amend regulations under the Change in Bank Control Act.

The proposed rule would mandate that the FDIC be notified of specific acquisitions of voting securities in FDIC-supervised institutions. The rule would allow the FDIC to consider all options under the Change in Bank Control Act.

The public has 60 days to comment on the proposal after published in the Federal Register. Learn more about the proposed rulemaking here.