Custodia Bank's application for a Federal Reserve master account was denied after 26 YEARS of patronage and paying millions in fees, a decision upheld by a US court. The case, which has been closely watched, involved Judge Skavdahl, who initially denied the Fed's Motion to Dismiss but later sided with the Federal Reserve in a decision on Summary Judgment. Critics, including prominent figures, have condemned the denial, arguing it undermines the credibility of the Federal Reserve and represents an extension of controversial policies like Operation Choke Point. Without a master account, Custodia faces significant operational challenges, being relegated to a 'second-class citizen' status, dependent on intermediary banks.