Legal Opinion
Massachusetts v. Federal Deposit Insurance
Court of Appeals for the First Circuit
Decided December 19, 1996No. 96-1548PublishedCited by 1 opinion
1Opinion of the Court
LYNCH, Circuit Judge.
Against the backdrop of a general economic decline and tightened federal bank regulations, Massachusetts suffered forty-eight bank failures between 1987 and 1994. This case is part of the aftermath of that financial crisis. At issue is whether the Commonwealth of Massachusetts, acting under- its abandoned property statute, may obtain either the federal deposit insurance proceeds or the pro rata distributions from abandoned accounts in ' failed Massachusetts banks. Considerable sums are at stake.
I
The Federal Deposit Insurance Corporation was created by the Banking Act of…
2Cases cited20 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Rice v. Santa Fe Elevator Corp.Supreme Court of the United States · 1947
- Medtronic, Inc. v. LohrSupreme Court of the United States · 1996
- Rust v. SullivanSupreme Court of the United States · 1991
- Louisiana Pub. Serv. Comm'n v. FCCSupreme Court of the United States · 1986
15 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Commonwealth Of Massachusetts v. Federal Deposit Insurance CorporationCourt of Appeals for the First Circuit · 1996