Biggest 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, saying the current process falls short of its goals. The suit comes from the Bank Policy Institute, which represents big banks like JPMorgan, Citigroup and Goldman Sachs, as well as the American Bankers Association, the Ohio Bankers League, the Ohio Chamber of Commerce and the U.S. Chamber of Commerce.

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