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EHRLICH v. FEDERAL DEPOSIT INSURANCE CORP.

April 13, 1973

BENJAMIN EHRLICH, PLAINTIFF,
v.
FEDERAL DEPOSIT INSURANCE CORP. AND BEVERLY BANK, DEFENDANTS.



The opinion of the court was delivered by: Bauer, District Judge.

MEMORANDUM OPINION AND ORDER

The plaintiff is Benjamin Ehrlich who is a resident of Chicago, Illinois, and a customer of Beverly Bank of Chicago. The defendants are Federal Deposit Insurance Corp. (FDIC) and Beverly Bank of Chicago (Beverly).

The plaintiff in his complaint alleges the following facts:

  1. The plaintiff has a savings account in Beverly
    Bank of Chicago. Since May 5, 1971 the
    plaintiff has deposited the sum of $125.00 each
    month; the balance as of January 1, 1973 is
    $1,012.64.
  2. Beverly Bank has refused to pay out to the
    plaintiff funds from his personal savings
    account denying him his constitutional rights
    of due process and equal protection.
  3. On March 6, 1972 the plaintiff completed the
    necessary arrangement to borrow the sum of
    $40,000.00 from Beverly, giving two buildings
    in Trust No. 8-3293 as security for the loan.
  4. Despite plaintiff's repeated demands, Beverly
    has refused to pay the funds from the loan to
    plaintiff's authorized agent, First National
    Bank of Oak Forest. Illinois.

Plaintiff brings this action to recover $20,000.00 from the FDIC under the Federal Deposit Insurance Act and to recover the amount deposited in Beverly Bank since May 5, 1972.

The defendant FDIC in support of its motion to dismiss contends that the FDIC has no authority or liability to pay the plaintiff because Beverly Bank has not closed and is not unable to meet the demands of its creditor. Thus, FDIC contends that the plaintiff has failed to state a claim upon which relief can be granted.

The defendant Beverly Bank in support of its motion to dismiss the complaint for lack of jurisdiction contends:

  1. The Federal Deposit Insurance Act does not
    confer jurisdiction on this Court to hear the
    instant action.
  2. The plaintiff's allegation that jurisdiction
    in the instant action is conferred by Title 28,
    U.S.C. § 1343 and 1331; Title 42, U.S.C. § 1982,
    1983 and 1985 and the 5th, 7th and 14th
    Amendments of the United States Constitution is
    incorrect.

It is the opinion of this Court that the instant action should be dismissed for lack of jurisdiction and failure to state a cause of ...


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