Texas State Bank v. United States

423 F.3d 1370 (2005)

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Texas State Bank v. United States

United States Court of Appeals for the Federal Circuit
423 F.3d 1370 (2005)

  • Written by Robert Cane, JD

Facts

By law, banks had to maintain a certain level of deposit reserves in an account with the Federal Reserve. The United States Treasury Department received any interest earned from such reserve accounts. Texas State Bank (plaintiff) maintained a reserve account with the Federal Reserve. Texas State Bank filed suit against the United States (defendant), claiming that any interest generated from Texas State Bank’s reserve deposits belonged to Texas State Bank and therefore withholding the interest was an uncompensated government taking. The Court of Federal Claims dismissed the suit for lack of jurisdiction. Texas State Bank appealed.

Rule of Law

Issue

Holding and Reasoning (Dyk, J.)

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