Changes to business plans

(a) In general During the 3-year period beginning on the date on which the deposit insurance that the financial institution has obtained from the Federal Deposit Insurance Corporation becomes effective, a financial institution may request to deviate from a business plan that has been approved by the appropriate Federal banking agency by submitting a request to the agency pursuant to this section. (b) Review of changes An appropriate Federal banking agency shall, not later than the end of the 30-day period beginning on the receipt of a request under subsection (a)— (1) approve, conditionally approve, or deny the request; and (2) notify the financial institution of the decision and, if the agency denies the request— (A) provide the financial institution with the reason for the denial; and (B) suggest changes to the request that, if adopted, would allow the agency to approve the request. (c) Result of failure To act If an appropriate Federal banking agency fails to approve or deny a request within the 30-day period required under subsection (b), the request shall be deemed to be approved.