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M & M LEASING CORP. v. SEATTLE-FIRST NATIONAL BANK

Civ. Nos. 508-73C2, 509-73C2.

391 F.Supp. 1290 (1975)

M & M LEASING CORPORATION et al., Plaintiffs, v. SEATTLE-FIRST NATIONAL BANK et al., Defendants. M & M LEASING CORPORATION et al., Plaintiffs, v. PEOPLES NATIONAL BANK et al., Defendants.

United States District Court, W. D. Washington.

As Amended April 10, 1975.

Attorney(s) appearing for the Case

John P. Lycette, Jr., and Craig S. Sternberg, Lycette, Diamond & Sylvester, Seattle, Wash., for plaintiffs.

Rex M. Walker and Bradley C. Diggs, Davis, Wright, Todd, Riese & Jones, Seattle, Wash., for defendants Seattle-First Nat. Bank and Firstbank Leasing Corp.

D. Gordon Willhite, MacBride, Sax & MacIver, Seattle, Wash., for defendants Peoples Nat. Bank and Peoples Leasing Co.

James V. Elliott and Dorothy S. Kulig, Washington, D. C., and Charles F. Mansfield, Asst. U. S. Atty., for James E. Smith, Comptroller of the Currency.

OPINION

MORELL E. SHARP, District Judge.

These cases, consolidated for a nonjury trial before this Court, involve the legality under the National Bank Act, 12 U.S.C. § 24, of the motor vehicle leasing activities of national banks and their subsidiaries.

The plaintiffs, M & M Leasing Corporation; Goodway Leasing, Inc.; Bill Pierre Leasing, Inc.; and Budget Rent-A-Car of Washington-Oregon, Inc., are independent corporations engaged principally...

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