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By Pam Martens and Russ Martens: December 14, 2022 ~ Katie Cox worked for the Federal Reserve for 32 years, the last two decades of which were spent overseeing complex proposals for bank mergers. She left the Fed in 2020. Last Wednesday Katie Cox penned a shocker of a column for American Banker. She opened with this: “Suppose you’re a crypto company that wants to own a bank approved to engage in digital-asset activities. Here’s the fast-track way you might achieve that, while complying with rules in place since August: Go buy a bank, any bank. Convert your bank to a Federal Reserve member bank, meaning that your bank’s federal supervisor will now be the Fed, not the Office of the Comptroller of the Currency or the Federal Deposit Insurance Corp. Wait a little bit, maybe six months. Then send the Fed a letter notifying it that your bank is going … Continue reading