Federal Reserve News 09-30-2020: big Banks Acquire E-Trade & Schwab ?? Was out at the federalreserve.gov site and found these interesting releases today... The Federal Reserve Board on Wednesday announced its approval of the notice under section 4 of the Bank Holding Company Act of 1956 and under section 163(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act by Morgan Stanley, New York, New York, to acquire ETRADE Financial Corporation ("ETRADE") and thereby indirectly acquire E*TRADE's subsidiary federal savings associations, ETRADE Bank and ETRADE Savings Bank, all of Arlington, Virginia. Federal Reserve Board announces approval of notice by The Toronto-Dominion Bank https://www.federalreserve.gov/newsevents/pressreleases/orders20200930a.htm The Federal Reserve Board on Wednesday announced its approval of the notice under section 4 of the Bank Holding Company Act of 1956 by The Toronto-Dominion Bank, Toronto, Canada, and its subsidiary, TD Group US Holdings LLC, Wilmington, Delaware, to acquire more than five percent of the voting shares of The Charles Schwab Corporation, San Francisco, California, a savings and loan holding company.