12 USC § 4807
Time limit on agency consideration of completed applications
October 30, 2020
(a) In general
Each Federal banking agency shall take final action on any application to the agency before the end of the 1-year period beginning on the date on which a completed application is received by the agency.
(b) Waiver by applicant authorized
Any person submitting an application to a Federal banking agency may waive the applicability of subsection (a) with respect to such application at any time.
Tried the LawStack mobile app?
Join thousands and try LawStack mobile for FREE today.
- Carry the law offline, wherever you go.
- Download CFR, USC, rules, and state law to your mobile device.
