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INDEPENDENT INS. AGENTS OF AM. v. BD. OF GOVERNORS

Nos. 86-1572, 86-1573, 86-1576.

835 F.2d 1452 (1987)

INDEPENDENT INSURANCE AGENTS OF AMERICA, INC., Petitioner, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent. NATIONAL ASSOCIATION OF PROFESSIONAL INSURANCE AGENTS, et al., Petitioners, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent. NATIONAL ASSOCIATION OF CASUALTY, et al., Petitioners, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.

United States Court of Appeals, District of Columbia Circuit.

Decided December 29, 1987.

Attorney(s) appearing for the Case

Jonathan B. Sallet, with whom Jamie S. Gorelick, Thomas E. Wilson and David G. Webbert were on the brief, for petitioners.

Richard M. Ashton, Federal Reserve System, with whom Richard K. Willard, Asst. Atty. Gen., Dept. of Justice, James E. Scott and Douglas B. Jordan, Federal Reserve System were on the brief, for respondent.

John J. Gill and Michael F. Crotty were on the brief for amicus curiae, American Bankers Ass'n, et al., urging affirmance.

James F. Bell and Arthur E. Wilmarth, Jr. were on the brief for amicus curiae, Conference of State Bank Sup'rs, urging affirmance.

Timothy C. Russell and Alan G. Priest entered appearances for amicus curiae, American Council of Life Ins., et al.

Before GINSBURG and WILLIAMS, Circuit Judges, and ROBINSON, Chief Judge, United States District Court for the District of Columbia.

Opinion for the Court filed by Chief Judge AUBREY E. ROBINSON, Jr.

AUBREY E. ROBINSON, Jr., Chief Judge:

In this case, Petitioners, several insurance agents trade associations, challenge final regulations of the Board of Governors of the Federal Reserve System ("the Board") redefining permissible insurance agency and underwriting activities for bank holding companies. 12 C.F.R. § 225 (Regulation Y) (1987). Specifically, Petitioners challenge two aspects...

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