Change in Bank Control Act
- Change in Bank Control Act
-
USA
The federal statute requiring that the acquisition of control of any insured depository institution by any person (either individually or acting in concert with others) be approved by the primary federal regulator of the institution to be acquired. The CIBC Act does not apply to transactions requiring approval under Section 3 of the Bank Holding Company Act or the Bank Merger Act (12 U.S.C. 1817(j)).
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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