Legal Opinion
Independent Bankers Association of America, and Western Independent Bankers v. Board of Governors of the Federal Reserve System
Court of Appeals for the D.C. Circuit
Decided June 28, 1974No. 73-1420PublishedCited by 6 opinions
1Per curiam
At issue in this case is the validity of Regulation J, adopted by the Board of Governors of the Federal Reserve System on June 21, 1972. This new rule re quired that all checks cleared through the Federal Reserve System be paid immediately, and it applied to all users of the System’s check cashing service, whether or not members of the System. Prior to this action, only checks cashed by banks within the forty-six cities in which the Federal Reserve has offices were collectible at once. This arrangement gave “country” banks a float, in essence an interest free loan during the period between…
2Cases cited3 opinions
- Abbott Laboratories v. GardnerSupreme Court of the United States · 1967
- Environmental Defense Fund, Inc. v. HardinCourt of Appeals for the D.C. Circuit · 1970
- Environmental Defense Fund, Incorporated v. HardinCourt of Appeals for the D.C. Circuit · 1970
3Cited by6 opinions
- Mister Ralpho v. J. Raymond Bell, Chairman, Foreign Claims Settlement Commission of the United StatesCourt of Appeals for the D.C. Circuit · 1977
- Bill Childs v. Federal Reserve BankCourt of Appeals for the Fifth Circuit · 1983
- A. G. Becker Inc. v. Board of Governors of the Federal Reserve SystemDistrict Court, District of Columbia · 1981
- Flight International Group, Inc. v. Federal Reserve BankDistrict Court, N.D. Georgia · 1984
- Otero Savings & Loan Ass'n v. Board of GovernorsDistrict Court, D. Colorado · 1980
1 more not listed; retrieve them via the Exa API.