Fed Request for Comments on “Predominantly Engaged in Financial Activities”

On April 2, the Fed requested comment on a proposed amendment to its February 11 notice of proposed rulemaking to establish requirements for determining whether a company is “predominantly engaged in financial activities“.  Based on comments received on the NPR, the amendment is intended to clarify the definition of financial activities for purposes of Title I.  Commenters to the February 11 proposal asked whether conditions imposed under the Bank Holding Company Act and regulations should be considered in defining financial activities under Title 1.  Comments must be submitted by May 25.  Fed Release. 
Request for Comment.