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OBERSTAR v. F.D.I.C.

Nos. 91-3844 and 92-2919.

987 F.2d 494 (1993)

Paul E. OBERSTAR, individually and as an institution-affiliated party of Boundary Waters State Bank, Ely, Minnesota, Petitioner, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Respondent.

United States Court of Appeals, Eighth Circuit.

Decided March 2, 1993.

Attorney(s) appearing for the Case

John F. Bonner, III, Minneapolis, MN (Kathryn J. Carlson, on the brief), for appellant.

Daniel F. Ross and Marta W. Berkley, Washington, DC (Ann S. Duross, Asst. Gen. Counsel, Thomas A. Schulz, Asst. Gen. Counsel, Charles L. Cope, II, Sr. Counsel, and Colleen B. Bombardier, Sr. Counsel, on the brief), for appellee.

Before BOWMAN and LOKEN, Circuit Judges, and HUNTER, Senior District Judge.

LOKEN, Circuit Judge.

Paul E. Oberstar appeals two Federal Deposit Insurance Corporation ("FDIC") decisions, one prohibiting him from participating in the affairs of any insured depository institution (the "Prohibition Order"), and the other ordering him to pay a $125,000 civil monetary penalty (the "Penalty Order"). Both orders are based upon Oberstar's alleged violation of the Change in Bank Control Act of 1978, 12 U.S.C. § 1817(j) (the "Control Act"). Having...

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