Custodia claims the delay in processing its master account application is resulting in substantial, ongoing injury to the bank.
“The immediate injury is that the delay has forced Custodia to defer its solo entry into the financial services market in favor of a decidedly second-best and far more expensive alternative: launching with a correspondent bank — which has a master account — while Custodia awaits a decision on its long-pending application,” the bank said in the 44-page lawsuit.
