BENTON SAVINGS & L. ASS'N v. Federal Home Loan Bank Bd., LR-73-C-78.
Citation | 365 F. Supp. 1103 |
Decision Date | 09 October 1973 |
Docket Number | No. LR-73-C-78.,LR-73-C-78. |
Parties | BENTON SAVINGS & LOAN ASSOCIATION, Plaintiff, v. FEDERAL HOME LOAN BANK BOARD et al., Defendants. |
Court | United States District Courts. 8th Circuit. United States State District Court of Eastern District of Arkansas |
Fred E. Briner, Benton, Ark., Leon B. Catlett, Little Rock, Ark., for plaintiff.
Daniel J. Goldberg, Asst. Gen. Counsel, Federal Home Loan Bank Board, Washington, D. C., for defendants.
In this suit plaintiff, the only savings and loan institution in Saline County, Arkansas, challenges the decision of the Federal Home Loan Bank Board to permit the opening of a branch savings and loan office in Saline County by a savings and loan institution operating in Pulaski County. Jurisdiction is based on the Administrative Procedures Act, 5 U.S.C. §§ 701-706 (1970), and the Home Owners' Loan Act of 1933, as amended, 12 U.S.C. §§ 1461-1468 (1970). Plaintiff presents two distinct arguments in support of its prayer that the decision of the Board be declared illegal and that the Board be restrained from authorizing the operation of the proposed branch. Plaintiff contends that the Board acted in an arbitrary and capricious manner in granting the application and that the Board's failure to reduce its decision to findings and conclusions in an opinion justifying its action concerning the application renders the action unlawful and void.
The matter is now ripe for judicial determination since each party has moved for summary judgment. There are no issues of fact disputed between the parties that are material to the decision. Both parties have briefed thoroughly their legal contentions. After reviewing the briefs and the authority cited therein, the Court is persuaded that summary judgment should be granted to defendants.
The complaint in this case was filed before decision by the Supreme Court in Camp v. Pitts, 411 U.S. 138, 93 S.Ct. 1241, 36 L.Ed.2d 106 (1973). In a per curiam order the Supreme Court vacated a circuit court decision concerning the decision of the Comptroller of the Currency regarding the certification of a national bank. Although the issue of adequacy of findings and conclusions was not before the Court, concerning the question the Court indicated that no matter how curt the administrative explanation the agency decision must be tested against the administrative record. Federal decisions since Camp v. Pitts have construed the case to relieve the Comptroller and, by analogy, the Home Loan Bank Board of any obligation to state with specificity the reasons for their decision. See, e. g., Mid-America National Bank of Chicago v. Watson, No. 72 C 2636 (N.D.Ill. Sept. 12, 1973); Wood County Bank v. Camp, No. 1277-72 . See also Guaranty...
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