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Custodia Bank Inc v. Federal Reserve Board of Governors et al
Case Number:
1:22-cv-00125
Court:
Nature of Suit:
Other Statutes: Administrative Procedures Act/Review or Appeal of Agency Decision
Judge:
Firms
- Berger Montague
- Cravath Swaine
- Crowley Fleck
- Davis Wright Tremaine LLP
- Hathaway & Kunz
- Hirst Applegate
- Jenner & Block
- King & Spalding
- Williams & Connolly
- Williams Porter Day & Neville
Government Agencies
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April 26, 2024
Custodia Balks At KC Fed's $25K Legal Bill After Account Suit
Custodia Bank on Friday urged a Wyoming federal judge not to award the Federal Reserve Bank of Kansas City's request for roughly $25,000 in attorney fees and litigation costs in a suit that the cryptocurrency-focused bank recently lost, saying the payout could deter others from pursuing "David and Goliath" lawsuits against the government.
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April 01, 2024
Fed Beats Crypto-Focused Bank's Master Account Suit
The Federal Reserve Bank of Kansas City has defeated a suit brought by crypto-focused Custodia Bank over its battle for a so-called master account, with a Wyoming federal judge ruling that Custodia's reading of the law doesn't show it's statutorily entitled to such an account because Congress does not "hide elephants in mouse holes."
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June 08, 2023
Fed Can't Ditch Crypto-Focused Bank's Master Account Suit
A Wyoming federal judge ruled Thursday that Custodia Bank's legal battle for a master account with the Federal Reserve may continue, denying dismissal motions from both the Fed and the Federal Reserve Bank of Kansas City in a procedural win to the bank.
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May 18, 2023
Wyoming Can't Intervene In Crypto-Focused Bank's Fed Row
A Wyoming federal judge has ruled that the state can't intervene in an ongoing challenge to the Federal Reserve's decision to deny a master account to a Wyoming-chartered digital asset bank, saying the state's bid would unnecessarily complicate the suit and that the state fails to offer any legitimate claims.
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April 17, 2023
Wyoming Says Fed Mischaracterized Its Rules In Custodia Suit
The state of Wyoming requested to intervene Friday in an ongoing challenge to the Federal Reserve's decision to deny a master account to a Wyoming-chartered digital asset bank, with the state lodging claims that the Fed appears to be "arbitrarily" treating state and federally regulated banks differently.
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March 29, 2023
Fed Slams Custodia's Bid For Master Account 'Rubber Stamp'
The Federal Reserve has told a Wyoming federal judge that Custodia Bank is not automatically entitled to a master account, and it moved for the dismissal of the cryptocurrency-focused bank's latest complaint.
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February 21, 2023
Custodia Back For Round 2 In Federal Reserve Account Fight
A cryptocurrency-focused bank that was recently denied access to the Federal Reserve's payment systems is accusing central bank officials of unfairly and unlawfully singling out its application for rejection as part of a "coordinated" campaign involving the Biden administration.
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January 27, 2023
Fed Rebuffs Custodia's Bids For Membership, Master Account
The Federal Reserve said Friday that it has formally denied membership and master account bids from crypto-focused Custodia Bank, which is vowing to press on with litigation accusing the central bank of singling it out for unfair treatment in its quest for payment system access.
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December 12, 2022
Fed Spared Default Loss In Custodia Master Account Suit
A Wyoming federal judge has denied cryptocurrency-focused Custodia Bank's bid for default judgment in its legal fight for a Federal Reserve master account, saying Monday the central bank's governing board doesn't have to file an answer or engage in standard discovery, contrary to Custodia's claims.
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December 05, 2022
Custodia Wants Default Win In Fed Master Account Suit
Cryptocurrency-focused Custodia Bank has asked a Wyoming federal judge for a default judgment in its legal fight for a Federal Reserve master account, saying the Fed's board "continues to drag its heels and create new ways to frustrate Custodia's efforts to obtain relief."