Cite as: 519 U. S. 213 (1997)
Opinion of the Court
legislative history, insofar as it is relevant, supports this conclusion. The petitioner's argument that § 1821(k) displaces federal common law by applying a uniform "gross negligence" standard for federally chartered, but not state-chartered, savings banks fails in light of the statute's language and history, this Court's conclusion that federal common law is inapplicable, and the fact that Congress did not separate its consideration of the two types of institutions. Pp. 226-231.
57 F. 3d 1231, vacated and remanded.
Breyer, J., delivered the opinion of the Court, in which Rehnquist, C. J., and Stevens, Kennedy, Souter, and Ginsburg, JJ., joined, and in which O'Connor, Scalia, and Thomas, JJ., joined, except to the extent the opinion relies on legislative history. O'Connor, J., filed an opinion concurring in part and concurring in the judgment, in which Scalia and Thomas, JJ., joined, post, p. 231.
Ronald W. Stevens argued the cause for petitioner. With him on the briefs were Gilbert C. Miller and Bruce H. Nielson.
Richard P. Bress argued the cause for respondent. With him on the brief were Acting Solicitor General Dellinger, Deputy Solicitor General Bender, Jack D. Smith, Ann S. DuRoss, and Jerome A. Madden.*
Justice Breyer delivered the opinion of the Court.
The Resolution Trust Corporation (RTC) sued several officers and directors of City Federal Savings Bank, claiming that they had violated the legal standard of care they owed that federally chartered, federally insured institution. The case here focuses upon the legal standard for determining whether or not their behavior was improper. It asks where courts should look to find the standard of care to measure the legal propriety of the defendants' conduct—to state law,
*Briefs of amici curiae urging reversal were filed for the American Bankers Association et al. by John J. Gill III, Michael F. Crotty, Richard M. Whiting, and Leonard J. Rubin; for the Washington Legal Foundation et al. by Reuben B. Robertson III, Daniel J. Popeo, and Paul D. Kamenar; and for Joseph Iaria et al. by Douglas S. Eakeley and Alan S. Naar.
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