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GREENWALD v. FIRST FED. SAV. & LOAN ASS'N OF BOSTON

Civ. A. Nos. 76-3931-C and 77-76-C.

446 F.Supp. 620 (1978)

Carol S. GREENWALD, Commissioner of Banks, Plaintiff, v. FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF BOSTON et al., Defendants. FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF BOSTON et al., Plaintiffs, v. Carol S. GREENWALD, Commissioner of Banks of the Commonwealth of Massachusetts, and First Home Loan Bank Board, Defendants.

United States District Court, D. Massachusetts.

February 22, 1978.

Attorney(s) appearing for the Case

Terence P. O'Malley, Asst. Atty. Gen., Boston, Mass., for plaintiff.

Carlton W. Spencer, James R. Brown, Jr., Boston, Mass., for Spencer & Stone, Boston, Mass.

William F. McKenna, Los Angeles, Cal., for First Federal Sav. and Loan Assoc.

Harold B. Shore, Associate Gen. Counsel, Roland Marcotte, Jr. Atty., Washington, D. C., for Federal Home Loan Bank Bd.

MEMORANDUM

CAFFREY, Chief Judge.

These consolidated civil actions challenge the applicability to Federal savings and loan associations of a Massachusetts law requiring interest payments on certain real estate tax deposits.1 In No. 76-3931-C, Massachusetts Commissioner of Banks Carol S. Greenwald (Commissioner), seeks declaratory and injunctive relief, specifically an order of the Court mandating defendants' compliance with the...

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