Transohio Savings Bank v. Director, Office of Thrift Supervision

Opinion for the court filed by Chief Judge MIKVA.

MIKVA, Chief Judge:

In the mid-1980s, as the savings and loan industry deteriorated, the Federal Savings and Loan Insurance Corporation (FSLIC) and the Federal Home Loan Bank Board encouraged a number of healthy thrifts to acquire failing ones. The government agencies provided financial assistance to the acquiring thrifts, and they promised favorable accounting treatment. Granting capital or accounting forbearances, the banking regulators allowed the thrifts to count toward their minimum capital requirements “supervisory goodwill,” intangible…