Your Say in Bank Ownership: The Federal Reserve Seeks Comments

You might care about this because the Federal Reserve System is asking for your input on changes in who owns banks. This official notice explains how the public can comment on applications under the Change in Bank Control Act. It specifically details a request from the Capobicanco Family Control Group. This group wants to keep voting shares in American Community Bancorp, Inc., and American Community Bank, both located in Glen Cove, New York. The document provides the legal rules for these applications and where to find more information. You have the chance to express your opinions on the proposed ownership changes. These comments are important. They help the Federal Reserve decide if these changes meet legal standards. All comments received will become public information. Therefore, it is important to avoid including any private details in your submissions. The deadline for sending your comments is March 12, 2026. This process ensures transparency in banking decisions. This document is particularly interesting because it offers a direct way for the public to participate in financial oversight. Bank ownership changes can have real effects on local economies and the services banks provide to their customers. This public comment period allows everyday citizens, community groups, and other interested parties to voice their thoughts before major decisions are made. It showcases a key aspect of regulatory transparency. This system allows for community feedback to be considered by the Federal Reserve. This ensures that the public's interests are part of the decision-making process. The notice makes it clear that such input is valued. This makes the document significant for anyone who believes in open governance and financial accountability. This legal document would be most interesting to several groups of people. Residents and businesses in Glen Cove, New York, especially those who bank with American Community Bank, should pay close attention. Their local banking services and community financial landscape could be affected by these ownership changes. People working in the banking and finance industries, including bank executives and legal professionals, will find this relevant for understanding regulatory processes. Community organizers and consumer protection advocates might also be interested, as these notices offer an opportunity to protect public interests. Lastly, anyone with a general interest in financial regulation and how public comments shape policy would find this document informative.