United States DC Circuit

In a petition for review of an Office of Thrift Supervision (OTS) regulation allowing subsidiaries of mutual holding companies to limit their minority shareholders to 10% of the subsidiary's total minority stock, the petition is denied, where OTS has discretion to balance the power of majority and minority shareholders in order to achieve its regulatory objectives.

Appellate Information

• Argued 04/23/2009
• Decided 07/07/2009
• Published 07/07/2009

Judges

• Before GINSBURG, HENDERSON, and KAVANAUGH, Circuit Judges.

Court

• United States DC Circuit

Counsel

• For Appellant:
  
• Paul M. Smith argued the cause and filed the briefs for petitioners.


• For Appellees:
  
• Christopher A. Sterbenz, Trial Attorney, U.S. Department of the Treasury, argued the cause for respondent.   With him on the brief were Dirk S. Roberts, Deputy Chief Counsel, and Elizabeth R. Helke, Special Counsel., Gregory Taylor was on the brief for amicus curiae American Bankers Association in support of respondent.