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INDEPENDENT INS. AGENTS OF AMERICA, INC. v. BD. OF GOVERNORS OF FEDERAL RESERVE SYSTEM

No. 80-1879.

658 F.2d 571 (1981)

INDEPENDENT INSURANCE AGENTS OF AMERICA, INC., and Independent Insurance Agents of Missouri, Petitioners, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent, and Mercantile Bancorporation, Inc., and MBI Insurance Agency, Inc., Intervenor-Respondents.

United States Court of Appeals, Eighth Circuit.

Decided September 1, 1981.

Rehearing and Rehearing Denied November 16, 1981.

Attorney(s) appearing for the Case

Alice Daniel, Asst. Atty. Gen., Civ. Div., Dept. of Justice, Neal L. Petersen, Gen. Counsel, J. Virgil Mattingly, Jr., Asst. Gen. Counsel, Stephen L. Siciliano, Atty., argued, Board of Governors of the Federal Reserve System, Washington, D. C., for respondent.

Thomas E. Wilson, Washington, D. C., for petitioners.

Thompson & Mitchell, David F. Ulmer, argued, Peter A. Fanchi, St. Louis, Mo., for intervenor.

Before HEANEY and HENLEY, Circuit Judges, and NICHOL, Senior District Judge.

Rehearing and Rehearing En Banc Denied November 16, 1981. See 664 F.2d 177.

HEANEY, Circuit Judge.

On August 22, 1980, the Board of Governors of the Federal Reserve System (Board) approved, without a formal evidentiary hearing, the application of Mercantile Bancorporation, Inc., (Mercantile) to engage in the sale of credit-related property and casualty insurance. Mercantile, the largest banking organization in Missouri, planned...

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