A Federal Reserve database of master accounts reveals “stunning” information in Wyoming-based Custodia Bank’s precedent-setting lawsuit against the Fed for denying its master account.

cross-posted from: https://lemmy.world/post/403754

A Federal Reserve database of master accounts reveals “stunning” information in Wyoming-based Custodia Bank’s precedent-setting lawsuit against the Fed for denying its master account.

  • @[email protected]English
    3•1 year ago

    “MORE THAN 1,000 current Fed master account holders have no federal deposit insurance,” she tweeted. “And several current Fed master account holders do not appear to have been eligible for one, yet the Fed granted them one anyway.”

    • @MaggotyOPEnglish
      1•1 year ago

      Interestingly FDIC insurance isn’t required according to the St Louis Reserve. Link

      I wonder what the break down on the existing ones without insurance being tier 2 and tier 3 are.