Big banks sue the Federal Reserve over annual stress tests

A group of banks and business groups are suing the Federal Reserve over the annual bank stress tests.
The Bank Policy Institute, which represents big banks like JPMorgan, Citigroup and Goldman Sachs, is joining the American Bankers Association, the Ohio Bankers League, the Ohio Chamber of Commerce and the U.S. Chamber of Commerce to file the suit, which they said aims to “resolve longstanding legal violations by subjecting the stress test process to public input as required by federal law.”

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