Bank Groups Sue Fed, Seeking ‘Transparency’ on Stress Testing
Five groups representing banks and businesses sued the Federal Reserve on Tuesday (Dec. 24), saying its current stress testing framework is “opaque” and violates the law. The complaint was filed by the American Bankers Association (ABA), the Bank Policy Institute,…
Lobby Representing JPMorgan, Goldman Sachs and Others Sue Federal Reserve Alleging ‘Stress Tests’ Violate Law
The Federal Reserve is being sued by several groups representing America’s biggest banks on allegations that the Fed’s annual capital “stress tests” violate US law. Groups including the Bank Policy Institute, the Ohio Bankers League, the Ohio Chamber of Commerce,…
Federal Reserve Is Sowing Needless Confusion
The Federal Reserve’s decision to cut interest rates last week has raised a lot of questions. The rhetoric accompanying the action suggests that this may be the last cut for a while, and it has prompted rare dissent among the…
Banks sue Federal Reserve in challenge to stress tests
Article content The United States Federal Reserve doesn’t allow for appropriate public input when designing bank stress tests, bank trade groups said in a lawsuit seeking to force the central bank to open the design of the tests to public…
Federal Reserve Faces Lawsuit from Big Banks, Business Groups: What to Know
What’s New Groups representing banks and businesses, including the Bank Policy Institute, have filed a lawsuit on Tuesday against the Federal Reserve for violating federal law with the “opaque aspects of the stress testing framework.” “For years, we have highlighted…
Banks, organizations sue Federal Reserve over annual stress tests
The Bank Policy Institute sued the Federal Reserve on Tuesday on behalf of several banks and financial organizations citing a lack of transparency in the agency’s annual stress tests. File Photo by Alexis C. Glenn/UPI | License Photo Dec. 24…
Elon Musk Calls for Major Reforms at the U.S. Federal Reserve
Elon Musk sets his sights on the U.S. Federal Reserve, stirring discussions on efficiency and monetary policy. Recently, Musk has described the Federal Reserve as “overstaffed,” advocating for a transformation in how America manages its money. With his new role…
Major banks, business groups sue U.S. Federal Reserve over annual stress tests
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…
Biggest banks planning to sue the Federal Reserve over annual stress tests
A general view of the Federal Reserve Building in Washington, United States. Samuel Corum | Anadolu Agency | Getty Images The biggest banks are planning to sue the Federal Reserve over the annual bank stress tests, according to a person…
The Fed avoided a recession in 2024. But it couldn’t shake inflation.
The Federal Reserve did what many thought it couldn’t achieve in 2024, and yet in one respect it still ended the year the way it started — worried about stubborn price pressures. What it pulled off was a rare economic…