Federal Reserve Issues Guidance on Pre-Filing Reviews of Bank and Nonbank Acquisitions and Other Proposals
Today, the Federal Reserve issued supervisory guidance outlining a new process for banking organizations to formally request feedback on potential bank or nonbank acquisitions or other proposals prior to the submission of a formal application or notice. The so-called “pre-filing” process is completely optional and is intended to be of particular benefit to applicants that are not frequent filers, such as smaller banking organizations, or that seek feedback on a specific area of a novel proposal.