Federal Home Loan Bank Board v. Superior Court of Arizona

HARDY, District Judge.

The findings of fact and conclusions of law in this memorandum shall constitute the findings and conclusions required by Rule 52(a), Rules of Civil Procedure.

The Federal Home Loan Bank Board is an independent agency of the Executive Branch of the United States which was established pursuant to 12 U.S.C. § 1437. It is authorized, “under such rules and regulations as it may prescribe, to provide for the organization, incorporation, examination, operation and regulation” of federal savings and loan associations, 12 U.S.C. § 1464(a). The Bank Board also directs the operation…