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CENTURY FEDERAL SAV. BANK v. U.S.

No. 90 C 3949.

745 F.Supp. 1363 (1990)

CENTURY FEDERAL SAVINGS BANK, Plaintiff, v. The UNITED STATES of America, The Office of Thrift Supervision, and its Director, Timothy Ryan, and his successor in office, Defendants.

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

July 24, 1990.

Attorney(s) appearing for the Case

Bruce T. Logan, George J. Anos, Yolanda Kielar, Ash, Anos, Freedman & Logan, Chicago, Ill., for Century Federal Sav. Bank.

Harris Weinstein, Thomas J. Segal, Aaron B. Kahn, Edward J. O'Meara, Office of the Chief Counsel, Office of Thrift Supervision, Washington, D.C., for Director of the Office of Thrift Supervision.

Stuart M. Gerson, Asst. Atty. Gen., Fred L. Foreman, U.S. Atty., Linda A. Wawzenski, Asst. U.S. Atty., Theodore C. Hirt, John R. Tyler, Dept. of Justice, Civil Div., Washington, D.C., for U.S.

MEMORANDUM OPINION AND ORDER

CONLON, District Judge.

This action is a product of the savings and loan crisis. Plaintiff Century Federal Savings Bank ("Century") claims that new minimum capital requirements promulgated by defendant Office of Thrift Supervision ("OTS") authorize defendant Timothy Ryan, as OTS Director ("the OTS director") to place Century in receivership. On July 12, 1990, Century filed a complaint seeking injunctive relief. Century immediately...

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