Investing.com — On Tuesday, a collection of groups representing U.S. banks and businesses announced they are filing a lawsuit against the Federal Reserve.
The legal action is aimed at challenging what the groups have characterized as the “opaque aspects of the stress testing framework.”
The groups involved in this lawsuit include the American Bankers Association and the U.S. Chamber of Commerce.
In a shared statement, they explained the lawsuit’s objective is to “resolve longstanding legal violations by subjecting the stress test process to public input as required by federal law.”
They argue that the public should have a say in the process, in accordance with federal law. The lawsuit is intended to address these concerns and bring about changes in the execution of the stress test process.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
