By Jon Hill (August 17, 2022, 9:39 PM EDT) – Federal Reserve System officials are urging a federal judge in Wyoming to dismiss a lawsuit from a cryptocurrency bank they say is seeking to rush to grant him access to key central bank services before he can finish mulling over all the wider ramifications of his request.
In briefs filed Tuesday evening, the Federal Reserve Board of Governors and its Kansas City Regional Reserve Bank argued that U.S. District Judge Scott W. Skavdahl should dismiss a lawsuit filed by Custodia Bank Inc. that accuses them of of “unreasonably” withholding the stock over its application for a so-called Fed Main Account.
Custodia, an uninsured…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!