On January 30, 2020, the Board of Governors of the Federal Reserve System unanimously approved a final rule that establishes a comprehensive framework for determining whether a company controls another company for purposes of the Bank Holding Company Act and Home Owners’ Loan Act, and clarifies certain control-related concepts. After decades in which questions of control were addressed primarily through policy statements and individual interpretations and determinations, the final rule introduces, for the first time, clear standards codified in regulation.

Click here to read our Six Things to Know about the Federal Reserve’s final control rule.