Regulatory Alerts2025-03-27 | Conditional Approval 1335Added
Conditional Approval 1335 — Colonial Savings, F.A. Substantial Change in Assets
The Office of the Comptroller of the Currency conditionally approves Colonial Savings, F.A.'s application to sell certain assets under 12 CFR 5.53. The approval terminates automatically if the transaction is not consummated within six months, requiring the bank to notify Licensing of the effective date within 10 days of consummation. The bank must provide 60 days' prior written notice and obtain a written determination of no objection before significantly deviating from its business plan or operations, a condition enforceable under 12 USC 1818 that remains in effect for three years following the transaction.
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