Federal Home Loan Bank v. Banc of America Funding Corp.

MEMORANDUM OPINION AND ORDER

MILTON I. SHADUR, Senior District Judge.

This action, brought to this District Court via a massive Notice of Removal (“Notice”), 1 poses once again the recurring question whether a federal home loan bank—in this instance the Federal Home Loan Bank of Chicago (“Bank”)—is entitled to remand an action to its state court place of origin because of what Bank characterizes as the absence of federal subject matter jurisdiction:

1. Diversity of citizenship is assertedly lacking.

2. Original federal question jurisdiction is said not to be conferred by the “sue and be sued”…