Custodia Bank Appeals Court Loss in Fed Master Account Lawsuit

A federal decide dominated final month that the Kansas Metropolis Fed had the discretion to reject Custodia’s bid for a grasp account. Custodia, in line with the courtroom, had not supplied adequate proof to again up accusations that the Fed’s Board of Governors was illegally leaning on the Kansas Metropolis department to reject the financial institution’s bid for the grasp account which, if granted, would let Custodia straight entry the Fed and never want middleman banks.