US bank, business groups sue Fed over stress test framework

(Reuters) – Groups representing U.S. banks and businesses said on Tuesday they were suing the Federal Reserve to challenge what they described as the “opaque aspects of the stress testing framework.”

In a statement, groups including the American Bankers Association and the U.S. Chamber of Commerce said the lawsuit “seeks to resolve longstanding legal violations by subjecting the stress test process to public input as required by federal law.”