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Venable LLP

Fintechs, Novel Charters, and Fed Master Accounts - Of Elephants and Mouseholes

Venable LLP on

A U.S. District Court recently rejected arguments that banks and institutions with novel charters have a statutory right to obtain a Federal Reserve master account. Master accounts let institutions access key parts of the...more

Mayer Brown

Federal Reserve Wins Two Master Account Lawsuits

Mayer Brown on

At the end of March, components of the US Federal Reserve System (“FRS” or the “Fed”) prevailed in two lawsuits brought by depository institutions seeking master accounts.1 These decisions have significant implications for...more

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