12 U.S. Code § 4807 - Time limit on agency consideration of completed applications

(a) In general
Each Federal banking agency shall take final action on any application to the agency before the end of the 1-year period beginning on the date on which a completed application is received by the agency.
(b) Waiver by applicant authorized
Any person submitting an application to a Federal banking agency may waive the applicability of subsection (a) of this section with respect to such application at any time.

Source

(Pub. L. 103–325, title III, § 343,Sept. 23, 1994, 108 Stat. 2238.)

 

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