Acting in Concert [Banks & Banking] Law and Legal Definition

According to 12 CFR 303.81 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter A -- Procedure and Rules of Practice; Part 303 -- Filing Procedures; Subpart E -- Change in Bank Control], acting in concert means “knowing participation in a joint activity or parallel action towards a common goal of acquiring control of an insured state nonmember bank or a parent company, whether or not pursuant to an express agreement.”