Federal Reserve Bank v. Peters
Supreme Court of Virginia
1Opinion of the CourtWest, J.
On and before January 5, 1922, the Federal Reserve Bank of Richmond was engaged in the business of banking, as defined in a certain act of Congress known as the Federal reserve act. The Prince Edward-Lunenburg County Bank was a State banking corporation engaged in the business of banking at Meherrin, Virginia. The Prince Edward-Lunenburg County Bank was not a member bank and maintained no deposit account with the Federal Reserve Bank of Richmond, and the Federal Reserve Bank of Richmond maintained. no deposit account with the Prince EdwardLunenburg County Bank, but the Federal Reserve Bank of…
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