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UNITED STATES FID. v. FED. RESERVE BANK

No. 83 Civ. 3310-CSH.

590 F.Supp. 486 (1984)

UNITED STATES FIDELITY AND GUARANTY COMPANY and Union Trust Company of Maryland, Plaintiffs, v. The FEDERAL RESERVE BANK OF NEW YORK, Defendant.

United States District Court, S.D. New York.

May 16, 1984.

Attorney(s) appearing for the Case

Duer & Taylor, New York City, for plaintiff; Frank C. McLaughlin, Jr., New York City, of counsel.

Thomas C. Baxter, Jr., New York City, for defendant.

MEMORANDUM OPINION AND ORDER

HAIGHT, District Judge:

Plaintiff Union Trust Company of Maryland ("Union Trust") is the victim of a cleverly executed check fraud.1 Claiming that the Federal Reserve Bank of New York ("New York Fed") is at least partially responsible for the success of the scheme, it seeks to hold New York Fed liable for the loss. Defendant moves to dismiss the action...

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