JUNE 24, 1996 – LEWIS V UNITED STATES (AMENDED DECISION OF THE US COURT OF APPEALS, NINTH CIRCUIT)

1996 – LEWIS V UNITED STATES (AMENDED DECISION OF THE US COURT OF APPEALS, NINTH CIRCUIT)
“Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors. Federal Reserve banks…are locally controlled by their member banks; banks are listed neither as "wholly owned" government corporations nor as "mixed ownership" corporations; federal reserve banks receive no appropriated funds from Congress and the banks are empowered to sue and be sued in their own names. . . .”