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Bank Merger Act of 1960

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NOTE: This Act was a 1960 amendment to the Federal Deposit Insurance Act. The Bank Merger Act was itself amended in 1966. It provides that a bank insured by the Federal Deposit Insurance Corporation may not merge with a noninsured bank except with the prior written approval of the primary federal regulator of the resulting institution.

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VARIANT NAMES:

  • Act to Amend the Federal Deposit Insurance Act to Require Federal Approval for Mergers and Consolidations of Insured Banks
  • Public Law 86-463
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