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LAWSON v. HOUSEHOLD BANK F.S.B.

No. 93-2220.

20 F.3d 786 (1994)

Mary LAWSON and Matt Lawson, on behalf of themselves and all persons similarly situated, Plaintiffs-Appellants, v. HOUSEHOLD BANK F.S.B., Defendant-Third/Party Plaintiff-Appellee, v. RESOLUTION TRUST CORPORATION, Third/Party Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided April 6, 1994.

Attorney(s) appearing for the Case

Steven M. Levin, Levin & Perconti, Edward T. Joyce (argued), Arthur W. Aufmann, Eric K. Wein, Kubasiak, Cremieux & Fylstra, Chicago, IL, for Mary and Matt Lawson.

Steven P. Handler, Christopher M. Murphy, McDermott, Will & Emery, Chicago, IL, for Household Bank F.S.B.

Michael A. Weinberg, Novack & Macey, Chicago, IL, Dennis S. Klein, Kevin M. Crotty (argued), Hughes, Hubbard & Reed, Washington, DC, for Resolution Trust Corp.

Before BAUER, FRIEDMAN, and RIPPLE, Circuit Judges.

FRIEDMAN, Circuit Judge.

In this suit, the owners of certificates of deposit (CD's) issued by a savings and loan association that shortly after issuance became insolvent, seek to recover from a bank that acquired the association's deposits and assumed its liabilities the amount of the interest rate on the CD's, that was higher than the interest rate the acquiring bank offered to the CD holders. In the purchase and acquisition agreement by which the bank acquired the...

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