Fed Guidance on Bank Acquisition Requests

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On July 12, the Fed issued supervisory guidance describing an optional process for an applicant to request a response on a potential bank acquisition or other proposal before the submission of a formal application or notice. This process is expected to benefit community banking organizations that do not file applications frequently and also pre-filers with novel proposals. Fed Release.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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