U.S. banks sue Federal Reserve over "lack of transparency" in stress testing

NEW YORK, Dec. 24 (Xinhua) -- Trade groups representing the U.S. biggest banks sued the Federal Reserve on Tuesday, accusing it of using an opaque process to test banks' resiliency during annual stress tests.

"The Board's lack of transparency results in significant and unpredictable volatility in banks' capital requirements," the lawsuit said.

"The lawsuit comes a day after the Federal Reserve said it was