The Federal Reserve faces a legal challenge from a group of banking industry lobbyists, including the Bank Policy Institute and the US Chamber of Commerce. The consortium alleges that the central bank is violating federal law by not allowing public input on its stress test process, a requirement that is legally mandated.
Yahoo Finance Senior Fed Reporter Jennifer Schonberger examines the purpose of these stress tests and analyzes how the central bank is addressing the controversy.
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This post was written by Angel Smith
Read More: Bank lobbyists sue Fed over stress test transparency
