Federal Deposit Insurance Corp. v. Banking Commission

The facts in this case are not in dispute. The Farmers Bank of Lone Rock, Wisconsin, hereinafter referred to as the “bank,” is a corporation existing under the laws of Wisconsin. Federal Deposit Insurance Corporation, an insurance corporation, hereinafter referred to as “FDIC,” and Reconstruction Finance Corporation, hereinafter referred to as “RFC,” are corporations organized and existing by virtue of acts of congress. The Banking Commission of Wisconsin, hereinafter referred to as the “commission,” took possession of the bank for purposes of liquidation on October 2, 1942, and the affairs…