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Numisma Bank valuation increase by end of 2024?
3
Numisma Bank•Federal Reserve•Randy Quarles•Elizabeth Warren•Quarles•Warren•Custodia Bank•David Zaring•Fed•Numisma•Alt
Resolution / Starting Odds
Yes • 50%
No • 50%
Financial statements, stock market data, or reports from financial analysts.
Story
Numisma Bank, Co-Founded by Former Fed Official and Liz Warren Relative, Set to Receive Rare Master Account Approval, Raising Eyebrows
May 23, 2024, 10:57 PM
Numisma Bank, co-founded by former Federal Reserve Vice Chair Randy Quarles and a relative of Senator Elizabeth Warren, is set to receive a rare master account approval from the Federal Reserve. This decision has raised eyebrows within the financial community, particularly given the involvement of Quarles and Warren's relative. Critics argue that the Federal Reserve's decision appears inconsistent, as similar applications from other banks, such as Custodia Bank, have been blocked. David Zaring noted that the optics of this approval are 'pretty uncomfortable for the Fed,' highlighting concerns about potential favoritism and the market value of former Fed officials. Additionally, Numisma is statutorily entitled to a master account, according to Alt.
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