U.S. Banks and Businesses Sue Federal Reserve

(Reuters) – Groups representing U.S. banks and businesses announced on Tuesday that they are suing the Federal Reserve. They are challenging what they describe as the "opaque aspects of the stress testing framework."

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