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CONNECTICUT BANKERS ASS'N v. BOARD OF GOVERNORS

No. 79-1554.

627 F.2d 245 (1980)

CONNECTICUT BANKERS ASSOCIATION and The Connecticut Bank and Trust Company, Petitioners, v. The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent, Citicorp, Intervenor.

United States Court of Appeals, District of Columbia Circuit.

Decided February 7, 1980.

Attorney(s) appearing for the Case

Sharon S. Tisher, Hartford, Conn., with whom Howard W. Fogt, Jr., F. Anthony Maio and Catherine B. Klarfeld, Washington, D. C., were on brief, for petitioner.

Richard M. Ashton, Atty., Board of Governors of the Federal Reserve System, with whom Michael E. Bleier and Susan B. Weinberg, Atty., Board of Governors of the Federal Reserve System, Washington, D. C., was on brief, for respondent.

Arnold M. Lerman, Washington, D. C., with whom Michael L. Burack and Bruce Maximov, Washington, D. C., were on brief, for intervenor.

Barbara Allen Babcock, Asst. Atty. Gen. and Ronald R. Glancz, Atty., Dept. of Justice and James V. Mattingly, Jr., Atty., Board of Governors, Federal Reserve System, Washington, D. C., entered an appearance for respondent.

Before LEVENTHAL, ROBB and WALD, Circuit Judges.

Opinion for the Court filed by Circuit Judge LEVENTHAL.

LEVENTHAL, Circuit Judge:

For the second time1 this court is called upon to examine the hearing requirement under Section 4(c)(8) of the Bank Holding Company Act of 1956,2 as amended in 1970.

Petitioners challenge an order of the Board of Governors of the Federal Reserve System ("the Board") which...

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