Key Issues Intact in Custodia-Fed Lawsuit Over Master Accounts
Some of the most consequential questions raised by Custodia Bank's master account lawsuit against the Federal Reserve are poised to have their day in court.
Key issues in the Custodia case concerning the nature of regional reserve banks, the structure of the Federal Reserve System and the process for obtaining access to the Fed's payment systems are all fit for trial, U.S. District Court of Wyoming Judge Scott Skavdahl ruled Friday.
Skavdahl's order came in response to an August motion by the Fed Board of Governors and the Federal Reserve Bank of Kansas City to dismiss the various complaints raised by Custodia.
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