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ALABAMA FED. SAV. & LOAN v. MERRILL LYNCH, ETC.

No. 81-7914.

680 F.2d 1384 (1982)

ALABAMA FEDERAL SAVINGS AND LOAN ASSOCIATION, a corporation, Jefferson Federal Savings and Loan Association, a corporation, Guaranty Savings and Loan Association, and Martha D. Adams, Plaintiffs-Appellants, v. MERRILL LYNCH, PIERCE, FENNER & SMITH, INCORPORATED, a Delaware corporation, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

July 22, 1982.

Attorney(s) appearing for the Case

Frank Dominick, William S. Pritchard, Jr., Donald H. Brockway, Jr., William S. Pritchard, III, Birmingham, Ala., for plaintiffs-appellants.

Thomas W. Christian, Thomas A. Carraway, N. Lee Cooper, Birmingham, Ala., William P. Rogers, Rogers & Wells, Joseph Diamond, James N. Benedict, New York City, for defendant-appellee.

Before HILL and CLARK, Circuit Judges, and SCOTT, District Judge.

PER CURIAM:

Appellants attempted to assert below a private right of action under the Economic Recovery Tax Act of 1981, 26 U.S.C. § 128, and the Depository Institutions Deregulation Act, 12 U.S.C. § 3501 et seq., and certain regulations promulgated thereunder. Appellants claimed that Merrill Lynch violated these statutes and regulations by receiving a 1% brokerage commission for assisting California Federal in marketing All-Savers Certificates, by...

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