Laurence L. Lambert v. Federal Savings & Loan Insurance Corporation

This is an action challenging a determination by the Federal Savings and Loan Insurance Corporation (FSLIC) that certain funds on deposit at two failed thrift institutions were not insured. The district court granted summary judgment for FSLIC. We affirm.

I

In 1986, the Federal Home Loan Bank Board (FHLBB) appointed the FSLIC as receiver for Audubon Federal Savings and Loan Association (Audubon) and Crescent Federal Savings Bank (Crescent). Both failed thrifts were located in Louisiana and were federally chartered and insured. The FHLBB directed the FSLIC in its corporate capacity to make…