Banks Branch into Non-Bank Buys: Public Input Sought
Published Date: 4/28/2026
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 May 13, 2026. This affects companies like Merchants Bancorp, which plans to buy Loan Exchange and offer new credit services across the U.S.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Bank Holding Company Plans Nationwide Lending
Merchants Bancorp, Carmel, Indiana, has filed to acquire Loan Exchange, LLC, Orange, California, and says it will engage in extending credit under section 225.28(b)(1) of Regulation Y. The notice says these credit activities would be conducted throughout the United States. The Federal Reserve is accepting public comments on this proposal through May 13, 2026.
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Key Dates
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