Ncnb Corporation v. The Board of Governors of the Federal Reserve System

WINTER, Circuit Judge:

NCNB Corporation (NCNB) petitions for review of an order of the Board of Governors of the Federal Reserve System (Board) refusing NCNB permission to retain ownership of its subsidiaries Superior Insurance Company (Superior Insurance) and Superior Claims Service, Inc. (Superior Claims). Permission was sought pursuant to § 4(c)(8) of the Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1843(c)(8), but it was denied upon the Board’s finding that NCNB had failed to demonstrate a reasonable basis for its position that the business activities of Superior Insurance and…