Lewis v. Continental Bank Corp.
Headline: An Illinois bank holding company’s challenge to Florida’s limits on out-of-state savings banks is declared moot after Congress broadened federal bank rules, so the Court vacates the lower judgment and sends the case back for more facts.
Holding:
Summary
Background
Continental Bank Corporation, an Illinois bank holding company, applied in 1981 to open an industrial savings bank (ISB) in Florida and said deposits would be insured by the FDIC 'to the maximum extent allowed.' Florida officials refused, citing state laws that barred out-of-state holding companies from operating ISBs. Continental sued, a federal district court ordered Florida to process the application, Florida later banned new ISBs, and the court of appeals affirmed before Congress changed federal law in 1987.
Reasoning
The Court examined whether the dispute still presented a live case that a federal court could decide. The central question was whether the 1987 amendments to the Bank Holding Company Act changed the legal stakes. Because Congress broadened the federal definition of
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