Custodia Bank Renews Push for Fed ‘Master Account’ After Rejection

“Confronted with discovery requests to the Kansas Metropolis Fed and a looming deadline for the Board to supply an administrative document that might have revealed the Board’s management over the Kansas Metropolis’s Fed’s decision-making course of, Defendants tried to moot the litigation. On January 27, 2023, in a coordinated maneuver orchestrated by the Board in session with the White Home and leaked to reporters by Board officers the day earlier than it occurred, the Kansas Metropolis Fed reported the denial of Custodia’s grasp account software instantly after the Board denied Custodia’s membership software,” Friday’s submitting claimed.