Sullivan & Cromwell LLP
04/26/2024 | Press release | Distributed by Public on 04/27/2024 05:06
FDIC Board Discusses Two Proposals Relating to Change-in-Bank-Control Review
April 26, 2024
The Two Proposals, Offered by Directors McKernan and Chopra, Would Have Expanded the FDIC's Role Under the Change in Bank Control Act
Yesterday, the Board of Directors of the Federal Deposit Insurance Corporation held an open meeting to consider two proposals related to the Change in Bank Control Act of 1978. The two proposals, offered by Directors McKernan and Chopra, would have expanded the FDIC's role under the CIBCA. Although the meeting ended without a vote on either proposal, Board members expressed interest in revisiting this issue after further consideration.