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Well, there was an attempt at it. There was a startup run by one of the best startup guys I've ever seen, Dave Wright, called Reserve Trust, which managed to ac
by rpcope1 2y ago
Well, there was an attempt at it. There was a startup run by one of the best startup guys I've ever seen, Dave Wright, called Reserve Trust, which managed to actually get a fed account. I think some people in power caught wind of it, and it ended up with congressional testimonies and a lot of other problems before it basically got shut down.
- ausbah 2y agoseems like there was a conflict of interest where a fed high up helped them get a fed master account while also serving in the company’s board https://www.bankingdive.com/news/kc-fed-has-revoked-reserve-trusts-master-account-toomey-says/625217/ https://www.bankingdive.com/news/kc-fed-has-revoked-reserve-...