According to ChainCatcher, market sources said that several large banks plan to sue the Federal Reserve over the annual bank stress test and are expected to file the lawsuit this week, possibly as early as Tuesday morning local time.
The Fed announced plans in a statement on Monday to tweak its bank stress tests, but did not detail what they would entail. The changes may not allay banks’ concerns about capital requirements.
Greg Bell, CEO of the Bank Policy Institute (BPI), welcomed the Fed's announcement but hinted that further action may be needed to ensure the reforms are consistent with law and policy.
