12 USC 4807 - Time limit on agency consideration of completed applications

(a) In general 
Each 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 authorized 
Any person submitting an application to a Federal banking agency may waive the applicability of subsection (a) of this section with respect to such application at any time.