Federal Register #2026-18764

Federal Reserve Notice: Proposals for Permissible Nonbanking Activities by TabaPay, Inc. and Keystone Financial Corporation

This notice from the Federal Reserve System concerns proposals by companies to engage in or acquire entities involved in permissible nonbanking activities under the Bank Holding Company Act and Regulation Y. - Government buyer: - Federal Reserve System - Companies mentioned: - TabaPay, Inc. (Palo Alto, California) - Keystone Financial Corporation (South Jordan, Utah) - Activities proposed: - TabaPay, Inc. seeks to become a bank holding company by acquiring Transact Bank, National Association (Denver, Colorado) - Plans to engage in data processing and money transmission through subsidiaries - Keystone Financial Corporation proposes to engage in extending credit and servicing loans - Geographic scope: - Activities to be conducted throughout the United States - Notable requirements: - All activities must comply with statutory standards under the Bank Holding Company Act and Regulation Y - Public portions of applications are available for inspection - Comments from the public are invited - No procurement of products or services is involved; this is a regulatory approval notice for business activities

Description

This notice announces proposals by companies to engage in or acquire companies involved in permissible nonbanking activities under the Bank Holding Company Act and Regulation Y. The proposals include becoming bank holding companies or acquiring ownership or control of banks or nonbanking companies. The activities are conducted throughout the United States and must comply with statutory standards. Public portions of applications are available for inspection, and comments are invited by specified deadlines.

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