Federal Reserve Issues Notice of Bank Control Act Applications

Strategic Insights -

The Office of the Federal Register has issued a notice by the Office of the Comptroller of the Currency and the Federal Reserve System regarding applications to acquire shares of banks and bank holding companies under the Change in Bank Control Act. The notice allows interested parties to express their views in writing on the standards enumerated in the Act. Comments must be received by September 19, 2025, at the Federal Reserve Bank indicated or the offices of the Board of Governors.

Key Takeaways:

  • Three applications have been filed to acquire shares of banks and bank holding companies: LH Buhrmaster Qualified Family Limited Partnership, Charlotte Moody Leonards, and The Leslie D. Vollbracht Non-Exempt Marital Trust.
  • The applicants seek to join existing control groups or retain voting shares of bank holding companies, which would indirectly allow them to acquire or retain shares of banks.
  • Interested parties can submit comments on the applications, but must do so by September 19, 2025, at the relevant Federal Reserve Bank or the Board of Governors' offices.
  • Comments received will be made available to the public and will not be modified to remove personal or business information, except for confidential information that would not be appropriate for public disclosure.
  • An Associate Secretary of the Board, Michele Taylor Fennell, has been assigned to handle the matter.
  • The applications are available for inspection at the Federal Reserve Bank indicated and at the Board of Governors' offices in Washington, D.C.
  • The Federal Reserve Banks of New York, Atlanta, and Kansas City are responsible for handling the applications, with associated Vice Presidents and Assistant Vice Presidents assigned to oversee the process.

Statistics:

  • Three applications have been filed under the Change in Bank Control Act.
  • The applications involve the acquisition or retention of shares of banks and bank holding companies.
  • September 19, 2025, is the deadline for submitting comments on the applications.
  • The Board of Governors will make the comments and applications available to the public.

Sources:

  • [12 U.S.C. 1817(j)] - Change in Bank Control Act
  • [12 CFR 225.41] - Regulation Y of the Board's
  • [https://www.federalreserve.gov/foia/request.htm] - Freedom of Information Office at the Board of Governors
  • Federal Reserve Bank of New York: Keith Goodwin
  • Federal Reserve Bank of Atlanta: Erien O. Terry
  • Federal Reserve Bank of Kansas City: Jeffrey Imgarten
  • Board of Governors of the Federal Reserve System: Michele Taylor Fennell