Investing.com — On Tuesday, a group of teams representing U.S. banks and companies introduced they’re submitting a lawsuit towards the Federal Reserve.
The authorized motion is geared toward difficult what the teams have characterised because the “opaque aspects of the stress testing framework.”
The teams concerned on this lawsuit embrace the American Bankers Affiliation and the U.S. Chamber of Commerce.
In a shared assertion, they defined the lawsuit’s goal is to “resolve longstanding legal violations by subjecting the stress test process to public input as required by federal law.”
They argue that the general public ought to have a say within the course of, in accordance with federal legislation. The lawsuit is meant to handle these issues and produce about adjustments within the execution of the stress take a look at course of.
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