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BOARD OF GOVERNORS v. FIRST LINCOLNWOOD CORP.

No. 77-832.

439 U.S. 234 (1978)

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM v. FIRST LINCOLNWOOD CORP.

Supreme Court of United States.

Decided December 11, 1978.

Attorney(s) appearing for the Case

Stephen M. Shapiro argued the cause for petitioner. With him on the briefs were Solicitor General McCree, Assistant Attorney General Babcock, Harriet S. Shapiro, Ronald R. Glancz, Neal L. Petersen, and J. Virgil Mattingly.

George B. Collins argued the cause and filed a brief for respondent.*

MR. JUSTICE MARSHALL delivered the opinion of the Court.

Section 3 (a) of the Bank Holding Company Act of 1956, 12 U. S. C. § 1842 (a), prohibits any company from acquiring control of a bank without prior approval by the Board of Governors of the Federal Reserve System (Board).1 Under § 3 (c) (1) of the Act, 12 U. S. C. § 1842 (c) (1), the Board may not approve a transaction that...

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