Abdulla Fouad & Sons v. Federal Deposit Insurance Corporation

EDITH H. JONES, Circuit Judge:

Abdulla Fouad & Sons (“Fouad”) sued the Federal Deposit Insurance Corporation (FDIC) to recover $100,000 damages after FDIC denied additional insurance coverage for funds allegedly deposited by Fouad’s agent in Western Bank-Westheimer (“Western”). The district court granted defendant FDIC’s motion for summary judgment after concluding that FDIC’s administrative action in denying Fouad’s insurance claim was “sufficiently reasonable”. Upon review of FDIC regulations and the agency determination in this case, we affirm the judgment.

I

FACTS

On May 29, 1986, Allied…