The Independent Community Bankers of America® (ICBA) today applauded the decision of the United States Court of Appeals for the 10th Circuit affirming the Federal Reserve’s authority to deny Custodia Bank’s application for a master account.

Federal Reserve Vice Chair for Supervision Michelle Bowman said she continues to prioritize community bank outreach to ensure their voice is part of agency efforts to shape a new regulatory framework.

FDIC Acting Chairman Travis Hill said deposit insurance reform could strengthen depositor confidence.