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SEC. SAV. BANK v. DIR., OFFICE OF THRIFT SPVN.

Civ. A. No. 91-2551.

798 F.Supp. 1067 (1992)

SECURITY SAVINGS BANK, SLA, Plaintiff, v. DIRECTOR, OFFICE OF THRIFT SUPERVISION, et al., Defendants.

United States District Court, D. New Jersey.

July 28, 1992.

Attorney(s) appearing for the Case

Charles J. Cooper, Shaw, Pittman, Potts & Trowbridge, Washington, D.C., Michael J. Gruccio, Milstead, Gruccio & DiDomenico, Vineland, N.J., for plaintiff.

Carole A. Jeandheur, U.S. Dept. of Justice, Civ. Div., Washington, D.C., for defendant, F.D.I.C.

Geraldine R. Gennet, Office of Chief Counsel, Office of Thrift Supervision, Washington, D.C., for defendant, Office of Thrift Supervision.

OPINION

GERRY, Chief Judge.

This is a case born out of the infamous savings and loan crisis and the legislation passed by Congress in the late 1980's in an attempt to avert it. The plaintiff is Security Savings Bank ("Security"), a relatively successful New Jersey savings and loan institution, which is suing the Office of Thrift Supervision ("OTS"), the federal regulatory agency charged with regulation of the savings and loan industry, and the Federal Deposit...

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