De Rosa v. Chicago Title Insurance

BOWNES, Circuit Judge.

This case raises the question whether a suit attacking the cancellation of a performance bond and other guaranties during the foreclosure of a mortgage arises out of a transaction “involving . . . banking” within the meaning of the jurisdictional statute 12 U.S.C. § 632.1

Appellants, plaintiffs below, are Pedro Juvenal Rosa and Rosario Amador de Rosa, suing individually and as a conjugal society. They allege that they sold a parcel of land to Torre de Caparra Corp. (TCC), receiving cash and a first mortgage in the amount of $111,500 at six percent interest. TCC also…