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OTERO SAV. & LOAN ASS'N v. FEDERAL HOME LOAN BANK

No. 80-2346.

665 F.2d 279 (1981)

OTERO SAVINGS AND LOAN ASSOCIATION, a Colorado corporation, Petitioner, v. FEDERAL HOME LOAN BANK BOARD and Federal Savings and Loan Insurance Corporation, Respondents.

United States Court of Appeals, Tenth Circuit.

Decided November 13, 1981.

Attorney(s) appearing for the Case

Bruce D. Pringle of Baker & Hostetler, Denver, Colo. (James A. Clark of Baker & Hostetler, Denver, Colo., Gailor, Elias & Matz, Washington, D. C., and Law, Scheid & Farabee, Denver, Colo., were also on the brief), for petitioner.

Rosemary Stewart, Trial Atty., Office of the Gen. Counsel, Washington, D. C. (Ralph W. Christy, Senior Associate Gen. Counsel, Larry M. Berkow and Harvey Simon, Associate Gen. Counsel, Federal Home Loan Bank Board, Washington, D. C., were also on the brief), for respondents.

Before HOLLOWAY, McKAY and LOGAN, Circuit Judges.

Otero Savings and Loan Association (Otero) petitions for review of an order of the Federal Savings and Loan Insurance Corporation (FSLIC) and the Federal Home Loan Bank Board (Bank Board) finding that Otero's "Check-In" program, as operated prior to December 31, 1980, violated 12 U.S.C. § 1832(a). The order directed Otero to close all checking accounts held by for-profit corporations and partnerships and to cease offering new customer Check-In or related automatic transfer...

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