Opinion ID: 564423
Heading Depth: 2
Heading Rank: 1

Heading: jurisdiction

Text: 7 The FDIC argues that subject matter jurisdiction is lacking for three reasons, none of which we find persuasive. First, it asserts that because no federal regulations have been promulgated to resolve deposit insurance claims, 12 U.S.C. Sec. 1821(f)(3) requires a federal district court to decide this dispute before it is presented to a federal court of appeals. This argument, however, misconstrues the unambiguous statutory framework. Under section 1821(f)(3), the FDIC may resolve a dispute regarding insured deposits either according to its regulations, see 12 U.S.C. Sec. 1821(f)(3)(A), or, if such regulations do not exist, by submitting the claim to a court of competent jurisdiction, see 12 U.S.C. Sec. 1821(f)(3)(B). Once the FDIC finally resolves a claim, however, the courts of appeals are empowered by section 1821(f)(4) to review the FDIC's determination. Because the FDIC has fully and, to all intents and purposes, finally resolved the claim here, section 1821(f)(4) is controlling, thus making this court the proper forum to evaluate the validity of the FDIC's determination. 8 The FDIC's next argument--that petitioners are lodging general attacks against the FDIC's policies and regulations rather than claiming as to any particular insured deposits, and therefore do not have a section 1821(f) claim--is easily dismissed. As we read the claim in this case, petitioners are challenging the FDIC's determination that Freedom Bank's not-for-profit depositors do not qualify for insurance on a per account basis. This is a narrow challenge to a specific group of insured deposits that we are authorized to review under section 1821(f). 9 Finally, the FDIC argues that we do not have jurisdiction over this matter because the FDIC has yet to make a final determination regarding the not-for-profit depositors' insurance coverage. We believe, however, that by refusing to consider the not-for-profit deposits as trust funds or trust interests, the FDIC has unambiguously ruled that it will not insure those deposits on a per account basis. As a result, notwithstanding the FDIC's oblique reference to the possibility of finding some other basis to extend insurance coverage, we find that the FDIC has made a definitive statement of the agency's position that is reviewable under section 1821(f)(4). G. & T. Terminal Packaging Co., Inc. v. Hawman, 870 F.2d 77, 80 (2d Cir.1989).