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COOPER v. UNION BANK

No. 73-1805.

527 F.2d 762 (1975)

Gary COOPER et al., Plaintiffs-Appellees, v. UNION BANK, a Banking Corporation, John Doe One to John Doe Ten, Defendants-Appellants.

United States Court of Appeals, Ninth Circuit.

Rehearing Denied January 22, 1976.

Attorney(s) appearing for the Case

Lee J. Cohen (argued), Cohen, Freeman & Feldman, Los Angeles, Cal., for defendants-appellants.

Howard P. Miller (argued), Buchalter, Nemer, Fields & Savitch, Los Angeles, Cal., for plaintiffs-appellees.

Before CHAMBERS, MERRILL and WALLACE, Circuit Judges.

OPINION

MERRILL, Circuit Judge:

Union Bank has taken this appeal from judgment cancelling the unpaid balance on a promissory note executed by appellees upon the ground that the loan for which the note was executed was in violation of Regulation U, 12 C.F.R. § 221, promulgated by the Board of Governors of the Federal Reserve System pursuant to § 7 of the Securities and Exchange Act of 1934, 15 U.S.C. § 78g.

Section 78g provides in part...

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