Big Banks Sue the Fed Over Lack of Transparency in Annual Stress Test

The Bank Policy Institute (“BPI”), consisting of major banks like JPMorgan (JPM) , Citigroup, Inc. (C) , and The Goldman Sachs Group, Inc. (GS) , has filed a lawsuit against the Federal Reserve over the annual stress testing framework and its transparency. These major banks have joined the American Bankers Association, the Ohio Bankers League, the Ohio Chamber of Commerce and the U.S. Chamber of Commerce to file a combined lawsuit.Details of the LawsuitThe Fed’s stress test is an annual examination to asses ...