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REITER v. FEDERAL SAVINGS AND LOAN INSURANCE CORP.

No. 16485.

396 F.2d 407 (1968)

Joseph REITER and LeRoy Guntner, Plaintiffs-Appellees, v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, Defendant-Appellant.

United States Court of Appeals Seventh Circuit.

Rehearing Denied July 2, 1968.

Attorney(s) appearing for the Case

David J. Shipman, John F. McCarthy, Chicago, Ill. (Max Wilfand, Asst. General Counsel, William Sullivan, Attorney, Federal Home Loan Bank Board, Washington, D. C., of counsel), for appellant.

James B. Sloan, Chicago, Ill., for appellees.

Before KNOCH, Senior Circuit Judge, and SWYGERT and CUMMINGS, Circuit Judges.

CUMMINGS, Circuit Judge.

Plaintiffs sued for a declaratory judgment that the Federal Savings and Loan Insurance Corporation ("Insurance Corporation") has no title to a $50,000 account on deposit in the National Boulevard Bank of Chicago.1 The Insurance Corporation is a corporate instrumentality and agency of the United States, organized under Subchapter IV of the National Housing Act (12 U.S.C. § 1725 et seq.).

Plaintiffs...

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