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Interesting. That article from 2018 speculates on the Fed's motivation, but seems upfront that nobody is certain why they gave TNB such a hard time. Has the s
by rkagerer 4y ago
Interesting. That article from 2018 speculates on the Fed's motivation, but seems upfront that nobody is certain why they gave TNB such a hard time. Has the story developed since then? Did the suit go to trial?
EDIT: In 2020 the Southern District of New York court dismissed TNB's complaint[1], finding the 18 month wait did not construe a denial (despite the application form saying a decision "may take 5-7 days"). I guess there was no appeal?
[1] https://justmoney.org/the-narrow-bank/ https://justmoney.org/the-narrow-bank/