A bank holding company must obtain the approval of the Fed before acquiring more than _____ of the shares of an additional bank, bank holding company, or financial services firm.
A)5 percent
B)10 percent
C)15 percent
D)25 percent
E)50 percent

Question

Quizplus · Accepted Answer

The Bank Holding Company Act of 1956 requires bank holding companies to obtain the approval of the Federal Reserve before acquiring more than 5% of the shares of an additional bank, bank holding company, or financial services firm.

A Bank Holding Company Must Obtain the Approval of the Fed