Federal Reserve issues notice on nonbanking activity proposals

The Federal Reserve published a notice (Federal Register Vol. 91, No. 176, Sep. 14, 2026) announcing proposals for bank holding companies to engage in or acquire companies that conduct permissible nonbanking activities. The notice binds any bank holding company seeking such transactions and members of the public who wish to comment.

The notice lists Keystone Financial Corporation, South Jordan, Utah, proposing to extend credit and service loans pursuant to section 225.28(b)(1) of Regulation Y. The public portions of the application and related filings are available for immediate inspection at the Federal Reserve Bank of San Francisco and the Board of Governors' offices.

Interested persons may submit written comments to the Federal Reserve Bank of San Francisco (Keith Dudley, Vice President, 101 Market Street, San Francisco, CA 94105-1579) or to the Board of Governors, Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001, no later than Sep. 29, 2026. Comments are subject to public disclosure and will be made available without change, except for removal of confidential information.

The Federal Reserve stresses that comments should not contain confidential or proprietary information inappropriate for public release. The notice is filed as FR Doc 2026-18764, signed by Michele Taylor Fennell, Associate Secretary of the Board.