Hempstead Bank v. James E. Smith, Comptroller of the Currency of the United States and the Chase Manhattan Bank, National Association

LUMBARD, Circuit Judge: .

Hempstead Bank, a New York state-chartered commercial bank with branches in Nassau and Suffolk Counties, brought this action in the Southern District to set aside as arbitrary and capricious the Comptroller of the Currency’s approval of the establishment of a branch of Chase Manhattan Bank, a national bank, in Locust Valley, New York. 1 The district court held that there was an adequate factual basis in the administrative record to support the Comptroller’s decision and that it had been made in accordance with New York law that was incorporated by reference into…