Fed Reviews Bank Share Buys by Trusts and Individuals
Published Date: 9/29/2026
Notice
Summary
If you want to buy shares in a bank or a bank holding company, you need to tell the Federal Reserve first. They’re checking applications like the one from the Honarkar Stock Trust to make sure everything’s fair and safe. If you want to share your thoughts, you’ve got until October 14, 2026, to speak up!
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
You must notify the Fed before buying bank control
If you plan to acquire shares that would result in a change in control of a bank or bank holding company, you must apply under the Change in Bank Control Act (12 U.S.C. 1817(j)) and Regulation Y (12 CFR 225.41) to the Federal Reserve. The Board reviews applications under paragraph 7 of the Act.
Public inspection and FOIA access to filings
The public portions of the change-in-control applications and related filings are available for immediate inspection at the Federal Reserve Bank(s) listed and at the Board of Governors. You may also request these materials via the Board's Freedom of Information Office at https://www.federalreserve.gov/foia/request.htm.
Comments you submit will be publicly posted
Comments sent to the Reserve Bank or the Board about these applications will be made public without change and may include personal or business contact or identifying information; the notice advises commenters not to include confidential information. Comments are subject to public disclosure.
Deadline to submit comments: October 14, 2026
Interested persons must submit written comments on the listed applications to the indicated Federal Reserve Bank or to the Board of Governors so that they are received not later than October 14, 2026.
Honarkar Stock Trust filed to acquire Nano Financial
The Honarkar Stock Trust, Mohammad Honarkar as trustee, of Laguna Beach, California, has applied to acquire voting shares of Nano Financial Holdings, Inc., and thereby indirectly acquire voting shares of Nano Banc, both of Irvine, California.
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Key Dates
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