Page:United States Reports 502 OCT. TERM 1991.pdf/196

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BOARD OF GOVERNORS, FRS v. MCORP FINANCIAL, INC. Opinion of the Court

FISA authorizes the Board to institute administrative proceedings culminating in cease-and-desist orders, 12 U. S. C. §§ 1818(a)–(b) (1988 ed., Supp. II), and to issue temporary cease-and-desist orders that are effective upon service on a bank holding company. § 1818(c). In addition, FISA establishes a tripartite regime of judicial review. First, § 1818(c)(2) provides that, within 10 days after service of a temporary order, a bank holding company may seek an injunction in district court restraining enforcement of the order pending completion of the related administrative proceeding. Second, § 1818(h) authorizes court of appeals review of final Board orders on the application of an aggrieved party.8 Finally, § 1818(i)(1) provides that the Board may apply to district court for enforcement of any effective and outstanding notice or order. None of these provisions controls this litigation: The action before us is not a challenge to a temporary Board order, nor a petition for review of a final Board order, nor an enforcement action initiated by the Board. Instead, FISA’s preclusion provision appears to speak directly to the jurisdictional question at issue in this litigation: 8 The statute characterizes such review of final Board orders as “exclusive” and provides: “(2) Any party to any proceeding under paragraph (1) may obtain a review. . . by the filing in the court of appeals of the United States for the circuit in which the home office of the depository institution is located, or in the United States Court of Appeals for the District of Columbia Circuit, within thirty days after the date of service of such order, a written petition praying that the order of the agency be modified, terminated, or set aside. . . . Upon the filing of such petition, such court shall have jurisdiction, which upon the filing of the record shall except as provided in the last sentence of said paragraph (1) be exclusive, to affirm, modify, terminate, or set aside, in whole or in part, the order of the agency.” 12 U. S. C. § 1818(h)(2) (1988 ed., Supp. II). The referenced exception concerns actions taken by the agency with permission of the court.