12 U.S.C. § 5363 — Acquisitions

(a) Acquisitions of banks; treatment as a bank holding company^* For purposes of section 1842 of this title, a nonbank financial company supervised by the Board of Governors^* must be deemed to be, and must be treated as, a bank holding company. (b) Acquisition of nonbank companies (1) Prior notice for large acquisitions Notwithstanding section 1843(k)(6)(B) of this title, a bank holding company with total consolidated assets equal to or greater than $250,000,000,000 or a nonbank financial company^* supervised by the Board of Governors must not acquire direct or indirect ownership or control of any voting shares of any company (other than an insured depository institution) that is engaged in activities described in section 1843(k) of this title having total consolidated assets of $10,000,000,000 or more, without providing written notice to the Board of Governors in advance of the transaction. (2) Exemptions The prior notice requirement in paragraph (1) must not apply with regard to the acquisition of shares that would qualify for the exemptions in section 1843(c) of this title or section 1843(k)(4)(E) of this title. (3) Notice procedures The notice procedures set forth in section 1843(j)(1) of this title, without regard to section 1843(j)(3) of this title, must apply to an acquisition of any company (other than an insured depository institution) by a bank holding company with total consolidated assets equal to or greater than $250,000,000,000 or a nonbank financial company supervised by the Board of Governors, as described in paragraph (1), including any such company engaged in activities described in section 1843(k) of this title. (4) Standards for review In addition to the standards provided in section 1843(j)(2) of this title, the Board of Governors must consider the extent to which the proposed acquisition would result in greater or more concentrated risks to global or United States financial stability or the United States economy. (5) Hart-Scott-Rodino filing requirement Solely for purposes of section 18a(c)(8) of title 15, the transactions subject to the requirements of paragraph (1) must be treated as if Board of Governors approval is not required.