Fed Eyes Banks Buying Non-Bank Businesses: Comment Now
Published Date: 5/1/2025
Notice
Summary
Some companies want to start or buy businesses that do activities allowed for banks but aren’t actually banks. If you’re interested, you can check out their plans and share your thoughts by May 16, 2025. This helps keep banking activities safe and fair across the U.S., with no big money changes right now—just new business moves.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Bank Holding Company Files to Start Lending
Community Bankshares, Inc., through its subsidiary Phoenix Lender Services, LLC (both of LaGrange, Georgia) gave notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) and Regulation Y (12 CFR part 225) that it proposes to engage de novo in extending credit and servicing loans under Sec. 225.28(b)(1). The notice says these nonbanking activities would be conducted throughout the United States and the public may comment; comments must be received by May 16, 2025.
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