Peoples Bank v. Federal Reserve Bank

GARRECHT, Circuit Judge.

The question here is whether this court has jurisdiction.

The Peoples Bank brought suit against the Federal Reserve Bank of San Francisco, Board of Governors of the Federal Reserve System, and Henry F. Grady, Federal Reserve Agent, to annul and enjoin the enforcement of a condition of membership in the Federal Reserve System required by the Board of Governors of the Federal Reserve System. In an opinion dated November 17, 1944, the'lower court held that it did not have jurisdiction as the indispensable party, the Board of Governors of the Federal Reserve System, was not…