12 U.S.C. § 4807: Time limit on agency consideration of completed applications

(a) In generalEach Federal banking agency shall take final action on any application to the agency before the end of the 1-year period beginning on the date on which a completed application is received by the agency. (b) Waiver by applicant authorizedAny person submitting an application to a Federal banking agency may waive the applicability of subsection (a) with respect to such application at any time.