>> “ Regulation Y also describes transactions for which bank holding companies must seek and receive the Federal Reserve’s approval.” My reading of Reg Y is if

>> “ Regulation Y also describes transactions for which bank holding companies must seek and receive the Federal Reserve’s approval.” My reading of Reg Y is if Capital One got approval from the Fed, it’s fine for them as a bank holding company to engage in a nonbanking activity. Am I missing something? ___________ Source: https://www.frbsf.org/banking/regulation/regulations-policies-guidance/reg-y/ https://www.frbsf.org/banking/regulation/regulations-policie...