Court Opinion

ID: 9487040
Source: CourtListenerOpinion
Date Created: 2023-08-05 12:06:50.930019+00
Date Added: 2024-06-11T17:52:04.168685
License: Public Domain

ROVNER, Circuit Judge,
concurring.
Although I join Judge Easterbrook’s opinion, I am sympathetic to the sentiments expressed by the dissent. I am ultimately unpersuaded by the dissent, however, as I agree with Judge Easterbrook that the internal affairs doctrine compels application of federal law to the internal affairs of a federally-chartered financial institution. Of course, that conclusion leads inevitably to our decision in Resolution Trust Corp. v. Gallagher, 10 F.3d 416 (7th Cir.1993), which would require the RTC to prove gross rather than simple negligence in a case such as this one. I share the dissent’s concerns with the panel’s decision in that case. (See post at 1127.) Yet the Gallagher panel was unanimous, and the court refused to rehear the case en banc in December of last year. We are therefore bound to follow Gallagher, and I accordingly do so today.