12 C.F.R. § 303.85

Filing procedures

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(a) Filing notice. (1) A notice required under this subpart shall be filed with the appropriate FDIC office and shall contain all the information required by paragraph 6 of the CBCA, section 7(j) of the FDI Act, (12 U.S.C. 1817(j)(6)), or prescribed in the designated interagency forms which may be obtained from any FDIC regional director.

(2) The FDIC may waive any of the informational requirements of the notice if the FDIC determines that it is in the public interest.

(3) A notificant shall notify the appropriate FDIC office immediately of any material changes in the information contained in a notice submitted to the FDIC, including changes in financial or other conditions.

(4) When the acquiring person is an individual, or group of individuals acting in concert, the requirement to provide personal financial data may be satisfied by a current statement of assets and liabilities and an income summary, as required in the designated interagency form, together with a statement of any material changes since the date of the statement or summary. The FDIC may require additional information if appropriate.

(b) Other laws. Nothing in this subpart shall affect any obligation which the acquiring person(s) may have to comply with the federal securities laws or other laws.

Notes of Decisions

Cited in 1 case (1 in the last 5 years), 2022–2022 · leading case: Hurry v. Fed. Deposit Ins. Corp. (D.D.C. 2022).

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Hurry v. Fed. Deposit Ins. Corp. (D.D.C. 2022). “” 12 C.F.R. § 303.85 (a)(1). Thus, as the FDIC tells it, “Hurry never submitted a ‘notice’ to the agency under the CBCA that would trigger the sixty-day disapproval clock” because she failed to provide the agency with all of the “additional relevant information” that it…”

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