Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank's annual "stress tests" of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed's practice of ...

A lawsuit was filed against the Federal Reserve on Tuesday about the stress test and its lack of transparency.

The Bank Policy Institute is leading a group of banks and financial organizations in a lawsuit on Tuesday against the Federal Reserve over its annual stress tests.

Banking and business groups sued the Federal Reserve over the central bank’s annual stress tests, saying they’re seeking more transparency in how the rules are adopted.

The Federal Reserve may overhaul its annual stress tests for large U.S. banks to reduce the volatility of the results, but also make them more transparent. While the Fed did not o