Legal Opinion
Federico v. Brockton Credit Union
Massachusetts Appeals Court
Decided August 4, 1995No. 94-P-353PublishedCited by 16 opinions
1Opinion of the CourtKass, J.
Under the doctrine developed in D’Oench Duhme & Co. v. Federal Deposit Ins. Corp., 315 U.S. 447, 459-462 (1942), later codified in 12 U.S.C. § 1823(e)(1) (1994), an agreement between a bank and a borrower does not bind the Federal Deposit Insurance Corporation (FDIC) or its assignees unless: (1) the agreement is in writing; (2) was executed by the bank and the borrower contemporaneously with the note that is evidence of the borrower’s debt; (3) the agree*58ment was approved by the board of directors of the bank; and (4) it has continuously been part of the official bank records.2 See Federal…
2Cases cited12 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- Nader v. CitronMassachusetts Supreme Judicial Court · 1977
- Langley v. Federal Deposit InsuranceSupreme Court of the United States · 1987
- The Federal Savings & Loan Insurance Corp., Etc., and First Gibraltar Bank, Fsb, Intervenor-Appellee v. Jack GriffinCourt of Appeals for the First Circuit · 1991
- Federal Deposit Insurance Corporation v. P.L.M. International, Inc., Antonio Melendez and Martha MelendezCourt of Appeals for the First Circuit · 1987
7 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Schaer v. Brandeis UniversityMassachusetts Supreme Judicial Court · 2000
- Smith v. Dorchester Real Estate, Inc.Court of Appeals for the First Circuit · 2013
- First Enterprises, Ltd. v. CooperMassachusetts Supreme Judicial Court · 1997
- Natick Auto Sales, Inc. v. Department of Procurement & General ServicesMassachusetts Appeals Court · 1999
- Suliveres v. CommonwealthMassachusetts Supreme Judicial Court · 2007
11 more not listed; retrieve them via the Exa API.