On October 22, 2020, the Wireless Telecommunications Bureau (“Bureau”) released an Order regarding the Relocation Payment Clearinghouse (“Clearinghouse”) appointments discussed in the 3.7 GHz Report and Order. The Bureau has determined that the search committee’s selection of CohnReznick LLP and subcontractors Squire Patton Boggs (US) LLP, and Intellicom Technologies, Inc. (collectively, “CohnReznick”) to serve as the Clearinghouse satisfies the Commission’s rules and the requirements set forth in the 3.7 GHz Report and Order.
In the 3.7 GHz Report and Order, the Commission had found that selecting one, independent Clearinghouse to oversee the cost-related aspects of the transition would serve the public interest. The Bureau rejected all of the claims against the appointment brought by Vertix. This includes rejecting the argument that a banking institution must be included as a party to the Clearinghouse agreement. The Bureau noted that CohnReznick plans to use Truist Financial Corporation (“Truist”) for its banking solution. Truist will act as a fiduciary to the Clearinghouse and will make and receive payments only at the discretion of the Clearinghouse.
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