According to ChainCatcher, market rumors suggest that several large banks plan to sue the Federal Reserve over the annual bank stress tests, with lawsuits expected to be filed as early as Tuesday morning local time.
In a statement on Monday, the Federal Reserve announced plans to adjust the bank stress tests but did not provide details on the specifics. These adjustments may not alleviate banks' concerns about capital requirements.
Greg Bell, CEO of the Bank Policy Institute (BPI), welcomed the Federal Reserve's statement but hinted at possible further actions to ensure reforms comply with laws and policies.