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INVESTMENT CO. INSTITUTE v. FED. DEPOSIT INS. CORP.

Civ. A. No. 84-3875.

606 F.Supp. 683 (1985)

INVESTMENT COMPANY INSTITUTE, et al., Plaintiffs, v. FEDERAL DEPOSIT INSURANCE CORPORATION, et al., Defendants.

United States District Court, District of Columbia.

April 23, 1985.

Attorney(s) appearing for the Case

Harvey L. Pitt, Henry A. Hubschman, David M. Miles, Washington, D.C., for plaintiffs.

Sandra M. Schraibman, Theodore C. Hirt, Keith Fischler, Attys., Civ. Div., Dept. of Justice, Washington, D.C., for defendants.

MEMORANDUM

GESELL, District Judge.

This case concerns an interpretation of the Glass-Steagall Act that the Federal Deposit Insurance Corporation (FDIC) has implemented through regulations1 permitting state banks insured by the FDIC that are not members of the Federal Reserve System to own affiliated subsidiaries engaged in the securities business. Plaintiffs are trade associations representing mutual fund companies and investment...

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