Banking Groups Push for Rapid Federal Reserve Reforms, Seek Expedited Judgment in Stress Test Lawsuit
Washington, D.C. – A lawsuit brought by several leading bank trade groups against the Federal Reserve is pushing for a swift legal decision over the central bank’s approach to stress testing. These groups, eager to implement changes in time for the next examination cycle, are arguing that the Fed’s practices have not been transparent and fall short of legal standards. Late last week, the Bank Policy Institute, American Bankers Association, and Ohio Bankers League put forward a motion for a summary judgment, urging a decisive ruling based on the existing evidence. They propose this to … Read more