Bank Holding Company Act of 1956
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The Bank Holding Company Act of 1956 (12 U.S.C. ยง 1841, et seq.) is a United States Act of Congress that regulates the actions of bank holding companies.
This act required Federal Reserve Board approval for the establishment of a bank holding company and prohibited bank holding companies headquartered in one state from acquiring a bank in another state.
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The Bank Holding Company Act of May, 9, 1956 was implemented in response to banks forming bank holding companies in order to own both banking and non-banking businesses. This Act, among other things, generally prohibited a bank holding company from engaging in most non-banking activities or acquiring voting securities of certain companies that are not banks.
