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American Bank v. Federal Reserve Bank, 262 U.S. 643 (1923)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
American Bank v. Federal Reserve Bank, 262 U.S. 643 (1923)
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American Bank & Trust Company v. Federal Reserve Bank of Atlanta No. 717 Argued April 30, May 1, 1923 Decided June 11, 1923 262 U.S. 643
APPEAL FROM THE CIRCUIT COURT OF APPEALS
FOR THE FIFTH CIRCUIT
Syllabus
1. It is within the statutory powers of a federal reserve bank to collect checks on state banks within its district which are not members of the federal reserve system or affiliated with it through establishment of an exchange balance, and which refuse to assent to clearance at par, provided the checks be payable on presentation and can in fact be collected consistency with the legal rights of the drawees without paying an exchange charge. P. 646.
2. Loss of income resulting to country banks from the exercise of this right without malice or coercion is damnum absque injuria. P. 648.
284 F. 424 affirmed.
Appeal from a decree of the circuit court of appeals affirming a decree made by the district court after final hearing in a suit brought by numerous state banks against the Federal Reserve Bank of Atlanta and its officials. The case was here before on a decree sustaining a demurrer to the bill. 256 U.S. 350.
Contents:
Chicago:
U.S. Supreme Court, "Syllabus," American Bank v. Federal Reserve Bank, 262 U.S. 643 (1923) in 262 U.S. 643 262 U.S. 644. Original Sources, accessed July 1, 2025, http://www.originalsources.com/Document.aspx?DocID=AZPA8381W6UXSR4.
MLA:
U.S. Supreme Court. "Syllabus." American Bank v. Federal Reserve Bank, 262 U.S. 643 (1923), in 262 U.S. 643, page 262 U.S. 644. Original Sources. 1 Jul. 2025. http://www.originalsources.com/Document.aspx?DocID=AZPA8381W6UXSR4.
Harvard:
U.S. Supreme Court, 'Syllabus' in American Bank v. Federal Reserve Bank, 262 U.S. 643 (1923). cited in 1923, 262 U.S. 643, pp.262 U.S. 644. Original Sources, retrieved 1 July 2025, from http://www.originalsources.com/Document.aspx?DocID=AZPA8381W6UXSR4.
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