NATIONAL ASSOCIATION OF CASUALTY AND SURETY AGENTS, et al., Petitioners,
v.
BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent,
MNC Financial, Inc., Intervenor.
NATIONAL ASSOCIATION OF PROFESSIONAL INSURANCE AGENTS, et al., Petitioners,
v.
BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent,
Sovran Financial Corp., Intervenor.
United States Court of Appeals, District of Columbia Circuit.https://leagle.com/images/logo.png
Argued April 15, 1988.
Decided September 9, 1988.
Rehearing Denied December 2, 1988.
Attorney(s) appearing for the Case
Jonathan B. Sallet, with whom Jamie S. Gorelick was on the brief, for petitioners. David G. Webbert, Washington, D.C., also entered an appearance, for petitioners.
Richard M. Ashton, Board of Governors of the Federal Reserve System, with whom John R. Bolton, Asst. Atty. Gen., Richard K. Willard, Asst. Atty. Gen.,* J. Virgil Mattingly, Jr., and James A. Michaels, Board of Governors of the Federal Reserve System, Washington, D.C., were on the brief, for respondents.
John D. Hawke, Jr., Kenneth A. Letzler and Leigh McGuigan, Washington, D.C., were on the brief, for intervenor Sovran Financial Corp.
Kenneth C. Bass, III, Washington, D.C., was on the brief for intervenor MNC Financial, Inc.
Ernest Gellhorn and Robert C. Jones, Washington, D.C., for Conference of State Bank Supervisors, John J. Gill and Michael F. Crotty, Washington, D.C., for American Bankers Ass'n, and Richard Whiting, Washington, D.C., for Ass'n of Bank Holding Companies, were on the joint brief for amici curiae, Conference of State Bank Supervisors, et al., urging affirmance. James F. Bell, Washington, D.C., also entered an appearance for amicus curiae, Conference of State Bank Supervisors.
Before RUTH BADER GINSBURG, SILBERMAN and BUCKLEY, Circuit Judges.
United States Court of Appeals, District of Columbia Circuit.
Rehearing En Banc Denied December 2, 1988.
Opinion for the Court filed by Circuit Judge SILBERMAN.
Dissenting opinion filed by Circuit Judge BUCKLEY.
SILBERMAN, Circuit Judge:
In June and July of 1987, the Board of Governors of the Federal Reserve System, which regulates bank holding companies, approved the applications of two bank holding companies, Sovran Financial Corporation ("Sovran") and Maryland National Corporation ("MNC"), to retain...
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