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Supreme Court Test Likely On Reserve Fund Deposits
Holbrook case pits First National Bank of Holbrook against Navajo County in a challenge to a state law requiring deposits of reserve funds in banks. Judge Don Udall calls the measure discriminatory and unconstitutional, arguing it favors large banks and restrains trade. Cities Tucson Phoenix Mesa Glendale Tempe joined the suit before it was dismissed. banks prepare appeals as the dispute centers on state access to idle funds and interest, amid claims it violates Arizona constitutional rights.
MENTIONED IN THIS ARTICLE
Holbromn
Supreme Court
Superior Court
Don Udall
Navajo ‘County
Arizona Bankers Assn
Tucson
Phoenix
Mesa
Glendale
Tempe
Maricopa County
Valley National Bank
Arizona
the Valley
Souther Arizona
Douglas
First National Banks
Charter Cities
Tem- Mesa
Vncor
State of