OCC Revises "Business Combinations" Booklet

The Office of the Comptroller of the Currency ("OCC") revised its "Business Combinations" booklet. The booklet, which is part of the Comptroller's Licensing Manual, outlines (i) policies that the OCC considers when evaluating applications for business combinations for national banks and federal savings associations and (ii) the specifics of the application process.

The booklet was updated to reflect a change in the public comment period calculation. In particular, the public comment period for a filing, subject to the Bank Merger Act, is typically 30 days after the newspaper publication, but a newspaper notice "should direct the public to the Weekly Bulletin for additional information about the filing." Additionally, the notice of a combination application must be published a total of three times in a newspaper in the community where the home offices of the banks central to the transactions are located.