Extract to table

The transaction must be assessed under the pre-merger notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976

The Consumer Financial Protection Bureau's supervisory authority over BRB (as an insured depository institution with more than $10 billion in total assets) and the potential applicability of the CFPB's Larger Participant Rule to Tessera's consumer lending activities must be considered in connection with post-acquisition compliance planning

Section 24 (Seventh) of the National Bank Act grants national banks the authority to exercise "all such incidental powers as shall be necessary to carry on the business of banking

A preliminary question for the OCC application process is whether Tessera's consumer lending activities must be conducted through a financial subsidiary under Section 24a or whether they can be conducted through an operating subsidiary under the OCC's regulations

Under the FDI Act and the FDIC's implementing regulations, BRB is required to notify the FDIC of material changes in its business activities, including the acquisition of a significant subsidiary engaged in consumer lending

Notice filings are generally simpler and less burdensome than prior-approval applications but must nonetheless be completed accurately and on time