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CBC, INC. v. BD. OF GOV. OF FEDERAL RESERVE SYSTEM

No. 86-1001.

855 F.2d 688 (1988)

CBC, INC., a corporation, Petitioner, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.

United States Court of Appeals, Tenth Circuit.

Rehearing Denied October 25, 1988.

Attorney(s) appearing for the Case

Lynell G. Skarda, Clovis, N.M., for petitioner-appellant.

Robert D. McGillicuddy (Richard K. Willard, Asst. Atty. Gen., Michael Bradfield, Gen. Counsel, and Richard M. Ashton, Associate Gen. Counsel, with him on the brief), Attorney, Bd. of Governors of the Federal Reserve System, for respondent-appellee.

Before McKAY, BARRETT, and TACHA, Circuit Judges.

TACHA, Circuit Judge.

Petitioner CBC, Inc. (CBC) challenges the authority of the Board of Governors of the Federal Reserve Board (Board) to require that certain bank holding companies submit consolidated financial statements that are certified by an independent auditor. CBC also contends that there is no rational basis for the Board's establishment of a 150 million dollar threshold for the consolidated reporting requirement...

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