The Federal Reserve, Custodia Bank, and the Battle over Sovereignty


As it moves into the active appeal stage at the Tenth Circuit, the ongoing legal battle between Custodia Bank and the Federal Reserve has garnered significant attention, especially given the involvement of various amicus briefs. A total of seven briefs were filed on July 3rd, the last day for supporting, or neutral, briefs to be filed.1 This case has attracted significant interest from top-flight appellate attorneys, drawing three former Solicitors General, two representing amici and Ian Gershengorn who represents Custodia itself.

In Federal appellate practice, an amicus curiae (“friend of the court”) brief allows non-parties to provide the court with additional…

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