BOARD OF GOVERNORS, FRS v. DIMENSION FINANCIAL CORP.

No. 84-1274.

474 U.S. 361 (1986)

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM v. DIMENSION FINANCIAL CORP. ET AL.

Supreme Court of United States.

Decided January 22, 1986


Attorney(s) appearing for the Case

Michael Bradfield argued the cause for petitioner. With him on the briefs was James V. Mattingly, Jr.

Jeffrey S. Davidson argued the cause for respondents Dimension Financial Corp. et al. With him on the brief were David G. Norrell, Glenn Summers, and William L. Mitchell. John D. Hawke, Jr., argued the cause for respondents American Financial Services Association et al. With him on the brief were Leonard H. Becker, Douglas L. Wald, and Louis A. Hellerstein.*


CHIEF JUSTICE BURGER delivered the opinion of the Court.

We granted certiorari to decide whether the Federal Reserve Board acted within its statutory authority in defining "banks" under § 2(c) of the Bank Holding Company Act of 1956, 12 U. S. C. § 1841 et seq., as any institution that (1) accepts deposits that "as a matter of practice" are payable on demand and (2) engages in the business of making "any loan...

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