Century Federal Savings Bank v. United States

MEMORANDUM OPINION AND ORDER

CONLON, District Judge.

This action is a product of the savings and loan crisis. Plaintiff Century Federal Savings Bank (“Century”) claims that new minimum capital requirements promulgated by defendant Office of Thrift Supervision (“OTS”) authorize defendant Timothy Ryan, as OTS Director (“the OTS director”) to place Century in receivership. On July 12, 1990, Century filed a complaint seeking injunctive relief. Century immediately moved for a temporary restraining order and a preliminary injunction to protect Century from receivership until the court reaches a final…