Northeast Bancorp v. Board of Governors
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Northeast Bancorp v. Board of Governors Supreme Court upholds regional banking

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Published by Congressional Research Service, Library of Congress in Washington, D.C .
Written in English

Subjects:

  • Banking law -- United States,
  • Bank holding companies -- United States,
  • Financial institutions -- Law and legislation -- United States

Book details:

Edition Notes

Other titlesNortheast Bancorp versus Board of Governors
StatementHenry Cohen
SeriesReport (Library of Congress. Congressional Research Service) -- no. 85-810 A, Major studies and issue briefs of the Congressional Research Service -- 1985-86, reel 2, fr. 0271
ContributionsLibrary of Congress. Congressional Research Service
The Physical Object
FormatMicroform
Pagination6 p.
ID Numbers
Open LibraryOL15454213M

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U.S. Reports: Northeast Bancorp v. Board of Governors, FRS, U.S. (). Contributor Names Rehnquist, William H. (Judge) Supreme Court of the United States (Author) Created / . SUPREME COURT OF THE UNITED STATES U.S. Northeast Bancorp Inc v. Board of Governors of Federal Reserve System CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE NINTH CIRCUIT. If a bank from one state seeks to acquire a bank, or substantially all of a bank's assets, from another state, the Douglas Amendment to the Bank Holding Company Act (BHCA), 12 U.S.C. Section (d), allows the Board to approve the acquisition only if it "is specifically authorized by the statute laws of the State in which such [acquired] bank. Northeast Bancorp, Inc. v. Board of Governors of the Federal Reserve System, U.S. (), was a case decided by the Supreme Court of the United States that sought to test reciprocal legislation implemented by both Connecticut and Massachusetts, which permitted the establishment of bank holding companies without approval by the Federal Reserve Board of Governors, so long as they were.

PETITIONER:Northeast Bancorp, Inc. RESPONDENT:Board of Governors of the Federal Reserve SystemLOCATION:Temple Hills Country Club Estates. DOCKET NO.: DECIDED BY: Burger Court () LOWER COURT: United States Court of Appeals for the Second Circuit. CITATION: US () ARGUED: DECIDED: ADVOCATES.   While the Board apparently does not consider itself expert on any constitutional issues raised, it is nonetheless an authoritative voice on the meaning of a federal banking statute. Securities Industry Assn. v. Board of Governors of Federal Reserve System, U.S. , , 82 2d (). Opinion for Northeast Bancorp, Inc. And Richard D. McDaniel v. Board of Governors of the Federal Reserve System, F.2d — Brought to you by Free Law Project, a non-profit dedicated to creating high quality open legal information. NORTHEAST BANCORP, INC. and Union Trust Company, Petitioners-Appellants, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent-Appellee. CITICORP, a Corporation, Petitioner, v. The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent. Nos. to , Dockets , , , United States Court of Appeals.

  To support this interpretation, the Commission urges a test derived from Northeast Bancorp v. Board of Governors, FRS () U.S. (Northeast Bancorp). That case involved an attempt by several out-of-state banks to acquire banks in New England. Federal law prohibited the acquisition of local banks by out-of-state banks unless expressly. U.S. 86 2d NORTHEAST BANCORP, INC., et al., Petitioners v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM et al. No. The Bank of New England Corporation was a regional banking institution based in Boston, Massachusetts, which was seized by the Federal Deposit Insurance Corporation (FDIC) in as a result of heavy losses in its loan portfolio and was placed into Chapter 7 liquidation. At the time, it was the 33rd largest bank in the United States, and its federal seizure bailout was the second largest on. Board of Governors. Northeast Community College is comprised of an 11 member board of governors. The members represent five districts, with one member serving at large. The board governs the College, sets policy, approves the budget, and sets the local College tax levy.