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Why Banks and Businesses Are Suing the Fed Over Stress Test
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Subscribe01 JAN 2025 / ECONOMY
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America's top banks and business groups, including the Bank Policy Institute (BPI), the American Bankers Association (ABA), and the U.S. Chamber of Commerce, have sued the Federal Reserve over lack of transparency in its annual stress testing framework. The stakes are high as the outcome of the case could drastically affect the banks' lending power and capital requirements and subsequently impact small businesses and economic growth, with critics suggesting that the US could learn from the European Central Bank's more transparent stress test methods.
The gloves are off as America’s largest banks and business groups band together to challenge the Federal Reserve over its annual stress testing framework. In a lawsuit filed in the U.S. District Court for the Southern District of Ohio, the Bank Policy Ins...
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