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ATHERTON v. FDIC

No. 95-928.

519 U.S. 213 (1997)

ATHERTON v. FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver for CITY SAVINGS, F. S. B.

United States Supreme Court.

Decided January 14, 1997.

Attorney(s) appearing for the Case

Ronald W. Stevens argued the cause for petitioner. With him on the briefs were Gilbert C. Miller and Bruce H. Nielson.

Richard P. Bress argued the cause for respondent. With him on the brief were Acting Solicitor General Dellinger, Deputy Solicitor General Bender, Jack D. Smith, Ann S. DuRoss, and Jerome A. Madden.*

Breyer, J., delivered the opinion of the Court, in which Rehnquist, C. J., and Stevens, Kennedy, Souter, and Ginsburg, JJ., joined, and in which O'Connor, Scalia, and Thomas, JJ., joined, except to the extent the opinion relies on legislative history. O'Connor, J., filed an opinion concurring in part and concurring in the judgment, in which Scalia and Thomas, JJ., joined, p. 231.

Justice Breyer, delivered the opinion of the Court.

The Resolution Trust Corporation (RTC) sued several officers and directors of City Federal Savings Bank, claiming that they had violated the legal standard of care they owed that federally chartered, federally insured institution. The case here focuses upon the legal standard for determining whether or not their behavior was improper. It asks where courts should look to find the standard of care to measure the legal...

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