Custodia recruits distinguished solicitors in Federal Reserve case
Summary
Custodia Bank has hired Ian Gershengorn and Michelle Kallen, both experienced solicitors, to represent the company in its case against the US Federal Reserve. The company is appealing the Federal Reserve's refusal to grant it a master account, which is essential for direct transactions with the Federal Reserve. This move comes after the court ruled in March that Custodia has no statutory entitlement to such an account. The appeal is separate from Custodia's attempts to become a member of the Federal Reserve, which were denied in January 2023.
