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FAIC SECURITIES, INC. v. UNITED STATES

Civ. A. Nos. 84-0959, 84-1136.

595 F.Supp. 73 (1984)

FAIC SECURITIES, INC., Plaintiff, v. UNITED STATES of America, et al., Defendants. SECURITIES INDUSTRY ASSOCIATION, Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION, et al., Defendants.

United States District Court, District of Columbia.

June 20, 1984.

Attorney(s) appearing for the Case

James E. Kaplan, Jeffrey C. Martin, Washington, D.C., for plaintiff in No. 84-0959.

John M. Liftin, Washington, D.C., James B. Weidner, New York City, for plaintiff in No. 84-1136.

Judith F. Ledbetter, Sandra M. Schraibman, Washington, D.C., for defendants.

James A. Smith, John Lansdale, Jr., Washington, D.C., for FHLBB and FSLIC.

MEMORANDUM

GESELL, District Judge.

Cross-motions for summary judgment in these consolidated cases present the questions whether regulations adopted by the Federal Deposit Insurance Corporation (FDIC) and the Federal Home Loan Bank Board (Bank Board) are authorized by the statutes which govern those agencies and whether the regulations were promulgated in accord with the requirements of the Administrative Procedure Act. Plaintiffs, an individual deposit brokerage...

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