FAR WEST FED. BANK v. THRIFT SUPERVISION-DIRECTOR

Nos. 92-35597, 92-36535.

119 F.3d 1358 (1997)

FAR WEST FEDERAL BANK, S.B., Plaintiff, and Trinity Ventures, Ltd., et al.; U.S. Venture Partners III; U.S.V. Entrepreneur Partners, et al., Plaintiffs-Appellees, v. OFFICE OF THRIFT SUPERVISION-DIRECTOR; Federal Home Loan Bank of Seattle; Federal Home Loan Bank Board, Defendants, and Federal Deposit Insurance Corporation, in its own capacity and as successor in interest to the Federal Savings & Loan Insurance Corporation, Defendant-Appellant. TRINITY VENTURES, LTD.; U.S. Venture Partners III; Institutional Venture Partners III, et al; U.S.V. Entrepreneur Partners, Plaintiffs-Appellants, v. OFFICE OF THRIFT SUPERVISION-DIRECTOR; Federal Deposit Insurance Corporation, in its own capacity and as successor in interest to the Federal Savings & Loan Insurance Corporation; Federal Home Loan Bank Board; Federal Savings & Loan Insurance Corporation, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Submission Deferred January 21, 1994.

Re-Argued and Submitted May 7, 1997.

Decided July 10, 1997.


Attorney(s) appearing for the Case

Wesley G. Howell, Jr., Gibson Dunn & Crutcher, New York City, John C. Millian, John K. Bush, Jeffrey T. Gilleran, and Jane Church, Gibson Dunn & Crutcher, Washington, DC, and Barnes H. Ellis and Christine Kitchel, Stoel Rives, Portland, OR, for plaintiffs-appellees-cross-appellants.

Ann S. DuRoss, Robert D. McGillicuddy, Colleen B. Bombardier, Daniel F. Ross, and Jeannette E. Roach, Federal Deposit Insurance Corporation, Washington, DC, Douglas Letter and Scott R. McIntosh, United States Department of Justice, Washington, DC, for defendants-appellants-cross-appellees.

Before: LAY, BEEZER, and TROTT, Circuit Judges.


TROTT, Circuit Judge:

OVERVIEW

In 1989, Congress passed the Financial Institutions Reform, Recovery, and Enforcement Act ("FIRREA"), Pub.L. No. 101-73, 103 Stat. 183 (1989), in part to resolve the widespread financial problems of federally-chartered thrift institutions. FIRREA established stricter capital requirements for thrifts and stricter limits on the amount a thrift may loan to a single borrower. These stricter regulations superseded an earlier agreement...

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