The federal statute that requires that the acquisition of control of any insured depository institution by any person (either individually or acting in concert with others) be subject to prior approval by the primary federal regulator of the institution to be acquired. The CIBC Act requires the applicant to disclose extensive information about the proposed transaction as well as extensive personal and financial information about the applicant. The CIBC Act does not apply to transactions requiring approval under Section 3 of the Bank Holding Company Act or the Bank Merger Act (12 U.S.C. 1817(j)). For more information on the CIBC Act, see Practice Note, Investments Involving Banks: Control Issues: CIBC Act: Investments that Require a Change in Control Filing).