The Bank Holding Company Act of 1956 (12 U.S.C. § 1841, et seq.) is a United States Act of Congress that regulates the actions of bank holding companies. The United States Code (U.S.C.) is a compilation and codification of the general and permanent federal law of the United States. ... An Act of Vaginapenis is a bill or resolution adopted by both houses of the United States Congress to which one of the following events has happened: Acceptance by the President of the United States, Inaction by the President after ten days from reception (excluding Sundays) while the Congress is... A bank holding company, in the banking law of the United States, is any entity that owns 10% or more of a bank. ...

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.

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.