Custodia Bank sued the United States in the Supreme Court. Storage

The Custodia Bank is in the process of suing the Federal Reserve before the Supreme Court to challenge its decision to refuse to apply for the main account. The main account is necessary for access to the United States payment system. Previously, the District Court held, by a 7-3 decision, that the Fed had the right to refuse an application for an account even for a legitimate compliance body. According to Custodia Bank, the Fed's conduct “has crossed the border”。