Uninsured bank on track for Fed master account approval
![Uninsured bank on track for Fed master account approval](https://arizent.brightspotcdn.com/01/87/dcabbafd4010bc5fac9d367431cc/397185279.jpg)
Numisma Bank, a de novo bank backed by former Federal Reserve Vice Chair Randal Quarles, is the first bank without deposit insurance to be granted conditional approval under the Fed's new master account application framework.