First Federal Savings & Loan Ass'n v. Loomis

MAJOR, Circuit Judge.

This appeal is from an injunctive decree of the District Court.1 The questions presented are: (1) Whether the District Court had jurisdiction of the action under sections 24 and 274d of the Judicial Code, 28 U.S.C.A. §§ 41 and 400; (2) whether section 5 óf the Home Owners’ Loan Act of 1933, as amended, 12 U.S.C.A. § 1464, is a valid exercise of the constitutional power of Congress; (3) whether appellants have a right to assert the invalidity, of that act.

Appellee is a federal savings and loan association organized on February 20, 1934, under the act in question. ’ The…