American Society of Travel Agents, Inc. v. Bank of America National Trust & Savings Ass'n

ORDER GRANTING MOTION FOR PRELIMINARY INJUNCTION AND DENYING MOTION TO DISMISS

Plaintiffs, a national trade association of travel agents, four local chapters of the national trade association, a travel club operator, and individuals and corporations doing business within California as retail and wholesale travel agents, seek a preliminary injunction to prevent Defendant Bank of America National Trust and Savings Association (hereinafter “Bank of America”) from implementing a proposed travel club, under which Plaintiffs claim the Bank of America would be selling tours and providing other travel services in violation of the National Bank Act, 12 U.S.C. §§ 24 (seventh) and 1864. This case raises in a novel context issues which were litigated in Arnold Tours Inc. v. Camp, 338 F.Supp. 721 (D.Mass.1972), aff’d. 472 F.2d 427 (1st Cir. 1972), and Investment Company Institute v. Camp, 401 U.S. 617 , 91 S.Ct. 1091 , 28 L.Ed.2d 367 (1971). A review of those cases and of the contractual agreement under which the travel club will be operated should contribute to an understanding of the Court’s ruling on this motion for a preliminary injunction.

In the Arnold Tours, Inc. case, South Shore…