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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter V - Office of Thrift Supervision, Department of the Treasury |
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Part 516 - Application Processing Procedures |
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Subpart E - OTS Review |
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Standard Treatment |
§ 516.260 - May OTS suspend processing of my application?
Latest version.
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§ 516.260 May OTS suspend processing of my application?
(a) Suspension. OTS may, at any time, indefinitely suspend processing of your application if:
(1) OTS, another governmental entity, or a self-regulatory trade or professional organization initiates an investigation, examination, or administrative proceeding that is relevant to OTS's evaluation of your application;
(2) You request the suspension or there are other extraordinary circumstances that have a significant impact on the processing of your application.
(b) Notice. OTS will promptly notify you, in writing, if it suspends your application.