U.S. Appeals Court Rules in Favor of Federal Reserve Against Custodia

In a landmark ruling, the U.S. Tenth Circuit Court of Appeals has sided with the Federal Reserve in its legal dispute with Custodia Bank. The court’s 2-1 decision rejected Custodia’s request to compel the central bank to grant it a master account, a key factor in their efforts to provide access to traditional banking services. This ruling marks a crucial turning point in the ongoing legal battle between Custodia and the Federal Reserve.