Fed Scrutinizes Bank Share Acquisitions for Safety
Published Date: 7/17/2025
Notice
Summary
Some families and groups want to buy or keep control of shares in banks or bank companies. The Federal Reserve is checking these requests and wants the public to share their thoughts by August 1, 2025. This helps keep bank ownership clear and fair, with no surprises on who’s in charge or how much money is involved.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Public inspection and comment window
The Federal Reserve has public applications from people who want to acquire or retain control of bank shares, and you can inspect those public portions at the listed Federal Reserve Bank or the Board offices. If you want to comment, your written comments must be received by August 1, 2025, and you can request expedited access via the Board's FOIA process at https://www.federalreserve.gov/foia/request.htm.
Comments will be publicly disclosed
Any comments you send about these applications will be made public and usually released without changes, so you should not include confidential or identifying business or personal information in your comment. Comments should be sent to the Reserve Bank listed or to the Board of Governors by August 1, 2025.
Specific family seeks to retain bank control
The Family Trust under the Donald T. Raleigh Revocable Trust (co-trustees Snowell Raleigh and Rebecca Billingsley) and the Marital Trust (LEB) of Lake Elmo, Minnesota, applied to join the Raleigh Family Control Group to retain voting shares of Lake Elmo Bancshares, Inc., and thereby indirectly retain voting shares of Lake Elmo Bank. This application is listed at the Federal Reserve Bank of Minneapolis and is part of the Change in Bank Control Act review process.
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Key Dates
Related Federal Register Documents
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