Caitlin Long: Bowman under scrutiny after seeking external review of Fed response to 2023 bank failures

Caitlin Long: Bowman under scrutiny after seeking external review of Fed response to 2023 bank failures
Fed faces scrutiny over 2023 bank failures

Caitlin Long, founder and CEO of Avanti Bank & Trust at Custodia Bank, suggests that Bowman is facing increased pressure within the Federal Reserve after bringing in an external firm to reassess the Fed’s own role in the 2023 bank failures.

According to Long, the Fed’s internal report at the time was drafted by those directly involved and failed to fully disclose the events, prompting Bowman to seek an independent review.

Long has previously raised concerns over large banks' readiness to launch tokenized deposit networks by 2027 without a designated vendor, according to her analysis of industry developments earlier this year. She also announced the rollout of HazelNetwork, a project by Vantage Bank and Custodia Bank aimed at connecting traditional banking systems with tokenized assets and payments in a recent statement. Both efforts reflect Long’s continued focus on bridging conventional finance and digital asset infrastructure.

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