In Custodia’s criticism, legal professionals for the Wyoming-based financial institution argued {that a} grasp account was “important to Custodia’s means to function successfully and effectively,” and that the Fed’s continued waffling on the choice was detrimental to Custodia’s clients – and, moreover, indicated a “black field bureaucratic course of with no clear guidelines” that allowed it to “act in full secrecy, every time and nevertheless they select.”