Commonwealth of Massachusetts v. Federal Deposit Insurance Corporation

BOUDIN, Circuit Judge.

In the years 1990 through 1992, the Federal Deposit Insurance Corporation was appointed receiver for over 30 banks principally located or doing business in Massachusetts. Massachusetts has an abandoned property statute, Mass.Gen.L. ch. 200A, that arguably gave Massachusetts title under state law to certain of the insured deposits in these banks, based on the failure of the named depositors to communicate with their banks over an extended period. Some of these potential claims had matured prior to the banks’ failure; others occurred during the receivership.

In March 1994,…