First State Bank of Hudson County v. The United States of America

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• no duty in FDIC to warn bank of criminal misapplication of bank funds by bank’s president
• FDIC manual does not create an enforceable duty on the part of the FDIC to inform a bank about misapplication of its. funds by the bank’s president
• same conclusion under examination provision of Federal Deposit Insurance Act
• FDIC internal guidelines do not create duty to banks
• “When the FDIC carried out its responsibilities . . . its purpose was to safeguard this system of insurance . . . not . . . to fulfill an obligation to notify the insured bank of any unlawful banking practice.”
• same conclusion under examination provision of Federal Deposit Insurance Act

Source: CourtListener parenthetical corpus (CC0).