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SKOKIE FED. S. & L. ASS'N v. FEDERAL HOME LOAN BK. BD.

No. 73 C 2677.

400 F.Supp. 1016 (1975)

SKOKIE FEDERAL SAVINGS AND LOAN ASSOCIATION, Plaintiff, v. FEDERAL HOME LOAN BANK BOARD and Talman Federal Savings and Loan Association of Chicago, Defendants.

United States District Court, N. D. Illinois, E. D.

June 16, 1975.

Attorney(s) appearing for the Case

Thomas J. Houser, Thomas H. Morsch, Tomas M. Russell, Sidley & Austin, Chicago, Ill., for plaintiff.

Charles E. Allen, Paul E. McGraw, Daniel J. Goldberg, Harold B. Shore, Harvey Simon and Ernest M. Cohen, Gen Counsel, Federal Home Loan Bank Board, Washington, D. C., for Fed. Home Loan Bank.

Jerome P. Croke, Chicago, Ill., Roger C. Wiegand, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., Irwin Zatz, Arvey, Hodes, Costello & Burman, Chicago, Ill., for Talman Fed. Savings & Loan Ass'n.

MEMORANDUM OPINION

DECKER, District Judge.

Pursuant to its authority under 12 U.S.C. § 1461 et seq., the Federal Home Loan Bank Board ("Board") made two decisions of extraordinary economic significance to federally insured savings and loan associations in Illinois, and as might be expected, a flood of litigation ensued. The first decision was generally to allow these associations to establish de novo branches, a practice denied by state...

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