Quimbee logo with url
From our private database of 15,100+ case briefs...

Clarke v. Securities Industry Association

United States Supreme Court
479 U.S. 388 (1987)


Facts

Robert Clarke (defendant), the federal Comptroller of the Currency, approved a California national bank's application to establish a discount-brokerage affiliate. The affiliate would operate out of the bank's branch offices and at non-branch locations, both in California and in other states. The Securities Industry Association (SIA) (plaintiff) represented security dealers that competed with banks to provide discount-brokerage services. The SIA sued Clarke, contending that Clarke's approval of the bank's application violated two provisions of the McFadden Act, codified at 12 U.S.C. §§ 36 and 81. Section 81 stated that a national bank's general business could be conducted only at the bank's headquarters and branch offices. Section 36 required that branch offices both be in the bank’s home state and comply with the bank’s home state's branching laws. Clarke argued that the SIA was outside the zone of interests protected by the McFadden Act, and, therefore, the SIA lacked standing to sue under the McFadden Act. A federal district court rejected that argument and ruled in the SIA's favor on substantive grounds. The court of appeals affirmed, and the United States Supreme Court granted certiorari to hear the case.

Rule of Law

Issue

Holding and Reasoning (White, J.)

Concurrence (Stevens, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 287,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 15,100 briefs, keyed to 204 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.