Rehearing Denied in Nos. 77-3485 and 77-3629 June 8, 1979.
DUNIWAY, Circuit Judge:
Under the Bank Holding Company Act, 12 U.S.C. § 1841 et seq. ("the Act"), a bank holding company such as BankAmerica may not engage in or expand its nonbanking activities without the approval of the Board of Governors of the Federal Reserve System ("the Board"). In 1976 BankAmerica asked the Board to approve an expansion of the nonbanking activities carried on by...
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