My first attempt at demanding lawful money...

[Gregory Harold]

David - Okay, I got a copy of my signature card and I'm not quite sure what I am looking for. I DID go back into the bank today to talk to the manager. I took him a copy of what you posted (Chap 6 of the Federal Reserve Act), he read it and replied that "while their bank is part of the Federal Reserve system,(which I took to mean a 'member bank', since the Federal Reserve system consists of 12 Fed Res banks) it is NOT a Federal Reserve bank". So, does being a member bank make them a Federal Reserve bank (as stated in USC 12 ?411)? I'm not reading in the definition provided above where it specifically states a national bank is considered a Federal Reserve bank - just that they are member banks, and not the distinct entity called a Federal Reserve bank. I am researching to see if it is stated anywhere in the Act that a member bank is actually considered a Fed Res bank. Any H - E - L - P would be appreciated! I want to start redeeming lawful money!!! (dammit)! :-)

I found this online:
"The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks."

If one is an "owner" (or part owner-member bank) of a Federal Reserve bank, does that make them a Federal reserve bank (as per the language of 12USC 411)? I'm not thinking so. The more I am researching this, the more I am seeing that the redemption of lawful money at 'any Federal Reserve bank' (as per 12USC 411), means one of the 12 district Federal Reserve Banks, and not one of the member banks. From 12USC ?411:

"The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks..." [my emphasis]. The language makes a distinction between national and member banks AND Federal Reserve banks.