US financial institution, enterprise teams sue Fed over stress take a look at framework

(Reuters) – Teams representing U.S. banks and companies stated on Tuesday they have been suing the Federal Reserve to problem what they described because the “opaque points of the stress testing framework.”

In a press release, teams together with the American Bankers Affiliation and the U.S. Chamber of Commerce stated the lawsuit “seeks to resolve longstanding authorized violations by subjecting the stress take a look at course of to public enter as required by federal legislation.”