Benton Savings & Loan Ass'n v. Federal Home Loan Bank Board

MEMORANDUM AND ORDER

EISELE, District Judge.

In this suit plaintiff, the only savings and loan institution in Saline County, Arkansas, challenges the decision of the Federal Home Loan Bank Board to permit the opening of a branch savings and loan office in Saline County by a savings and loan institution operating in Pulaski County. Jurisdiction is based on the Administrative Procedures Act, 5 U.S.C. §§ 701-706 (1970), and the Home Owners’ Loan Act of 1933, as amended, 12 U.S.C. §§ 1461-1468 (1970). Plaintiff presents two distinct arguments in support of its prayer that the decision of the Board…