CRCM Exam Dumps | First National Bancshares, Inc., a bank holding company, filed an application with its Federal Reserve

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Question 93/253

First National Bancshares, Inc., a bank holding company, filed an application with its Federal Reserve Bank on March 1 to acquire a subsidiary bank. On March 15 the Federal Reserve Board asked First National for more information. On April 1 the Federal Reserve Bank received the completed application and accepted it. On April 5 the Federal Reserve Bank notified First National of the April 1 acceptance and referred the application to the Federal Reserve Board. Under the normal rules, by what date must the Federal Reserve Board act on the application?

A. June 1

B. April 30

C. June 5

D. July 1

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Question 93/253

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