Central National Bank of Mattoon v. United States Department of Treasury
Court of Appeals for the Seventh Circuit
1Opinion of the Court
POSNER, Circuit Judge.
Central National Bank is one of two national banks in Mattoon, a town of 20,000 in downstate Illinois. After an investigation of the bank’s trust department, the Comptroller of the Currency, who regulates national banks, issued in 1987 a notice of intent to revoke the bank’s permission to provide trust services to its customers. The notice was issued pursuant to 12 U.S.C. § 92a(k), which authorizes the Comptroller, upon notice and hearing, to revoke trust powers that the bank has “unlawfully or unsoundly exercised.” After a hearing before an administrative law judge, the…
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