Howard S. Goldblatt v. Federal Deposit Insurance Corporation

FERGUSON, Circuit Judge:

The issue is whether the Individual Retirement Account (“IRA”) maintained in this case is a general deposit or a special deposit. The petitioner, Howard Goldblatt, appeals the district court decision rejecting his claim that his IRA is entitled to preference in the distribution of an insolvent bank’s assets by the Federal Deposit Insurance Corporation (“FDIC”), as receiver for the bank. We affirm the decision of the district court.

■ I.

The case was decided below on cross motions for summary judgment. In 1988, Gold-blatt opened an IRA account with the Bank of Beverly…