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Eccles v. Peoples Bank, 333 U.S. 426 (1948)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Eccles v. Peoples Bank, 333 U.S. 426 (1948)
Eccles v. Peoples Bank of Lakewood Village, California No. 101 Argued December 9, 1947 Decided March 15, 1948 333 U.S. 426
CERTIORARI TO THE UNITED STATES COURT OF APPEALS
FOR THE DISTRICT OF COLUMBIA
Syllabus
In admitting a state bank to membership in the Federal Reserve System, the Board of Governors prescribed a condition that, if a particular bank holding company acquired stock in the bank, the bank would withdraw from membership within 60 days after written notice from the Board. The holding company acquired less than 11% of the bank’s stock. The bank sued for a declaratory judgment that the condition was invalid, and for an injunction against its enforcement. Its claims of threatened injury were supported entirely by affidavits. The Board disavowed any present intention of enforcing the condition, on the ground that it had satisfied itself that the bank’s independence had not been affected, and that the public interest required no action.
Held: the bank’s need for equitable relief is too remote and speculative to justify a declaratory judgment -- especially against an agency of the Government and on the basis of affidavits. Pp. 426-435.
82 U.S.App.D.C. 126, 161 F.2d 636, reversed.
The District Court denied a declaratory judgment that a condition prescribed by the Board of Governors of the Federal Reserve System in admitting a state bank to membership in the Federal Reserve System was invalid, and denied an injunction against its enforcement. The United States Court of Appeals for the District of Columbia reversed. 82 U.S.App.D.C. 126, 161 F.2d 636. This Court granted certiorari. 332 U.S. 755. Reversed, p. 435.
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Chicago: U.S. Supreme Court, "Syllabus," Eccles v. Peoples Bank, 333 U.S. 426 (1948) in 333 U.S. 426 333 U.S. 427. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=ZKNEH4V8V4PVZRH.
MLA: U.S. Supreme Court. "Syllabus." Eccles v. Peoples Bank, 333 U.S. 426 (1948), in 333 U.S. 426, page 333 U.S. 427. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=ZKNEH4V8V4PVZRH.
Harvard: U.S. Supreme Court, 'Syllabus' in Eccles v. Peoples Bank, 333 U.S. 426 (1948). cited in 1948, 333 U.S. 426, pp.333 U.S. 427. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=ZKNEH4V8V4PVZRH.
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