Companies Seek Nod for Nonbank Ventures: Fed Listens
Published Date: 2/14/2025
Notice
Summary
Some companies want to start or buy businesses that do activities related to banking but aren’t banks themselves. The Federal Reserve is checking these plans and asking the public to share their thoughts by March 3, 2025. This affects companies across the U.S. and helps make sure these moves follow the rules and keep things safe and fair.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Public Comment Deadline and Disclosure
The Federal Reserve is accepting public comments on these proposals; comments must be received by March 3, 2025. Comments received are subject to public disclosure and may be made available without redaction of contact or business information.
WaFd Seeks New Tax, Trust, and Advisory Services
WaFd, Inc. filed notices to engage de novo nationwide in tax-planning and tax-preparation services, data processing, trust company functions, financial and investment advisory activities, agency transactional services for customer investments, and investment transactions as principal through proposed new subsidiaries. These proposals would, if approved, allow WaFd to offer those nonbanking services throughout the United States.
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Key Dates
Related Federal Register Documents
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If you want to buy big shares in a bank or a bank holding company, you have to tell the Federal Reserve first. This notice lists folks trying to do just that and invites the public to share their thoughts by March 3, 2025. It’s all about keeping banks safe and sound while making sure everyone plays fair when control changes hands.
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