Adrian v. State

HARRIS, Justice.

Plaintiffs, depositors of a now defunct bank, brought this action against the State of Iowa and its regulatory agencies to recover losses they suffered when the bank failed. The suit is premised on the plaintiffs’ claim that the State failed in a duty to regulate the bank. The appeal is from a trial court ruling which granted summary judgment for defendants. We affirm.

This is still another example of litigation occasioned by the collapse in 1983 of the Exchange Bank of Bloomfield, Iowa (the bank). We have previously explained that the bank was a vestige of a bygone era. In…