Tobin v. Commissioner of Banks

On October 28, 1977, the Commissioner of Banks certified to the Co-operative Central Bank (Central) that it was "unsafe and inexpedient” for the Roslindale Co-operative Bank (Roslindale) to continue its present operation and therefore Central was ordered to take possession and control of the property and business of Roslindale. See St. 1934, c. 73, § 4.

Roslindale’s president, Albert G. Tobin, brought a complaint alleging that the Commissioner’s actions were arbitrary and capricious and the certification was made "without just cause.” The bank president also alleged an individual claim based…