First Lincolnwood Corporation, an Illinois Corporation v. Board of Governors of the Federal Reserve System

FAIRCHILD, Chief Judge.

Petitioner (First Lincolnwood) is an Illinois corporation, formed to acquire and hold 80% of the stock of the First National Bank of Lincolnwood. Because such acquisition would cause First Lincolnwood to become a bank holding company, 12 U.S.C. § 1841(a), the proposed acquisition requires approval of the Board of Governors of the Federal Reserve System, 12 U.S.C. § 1842(a). The Board denied approval and the Bank petitioned this court for review. A panel of this court affirmed. First Lincolnwood Corporation v. Board of Governors of the Federal Reserve System, 546 F.2d…