Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank's annual "stress tests" of Wall Street firms violate the law.The lawsuit filed in U.S. District Court in Columbus,

Trade groups representing the largest U.S. banks on Tuesday filed suit in federal court to force more transparency in the U.S. Federal Reserve’s bank stress tests imposed after the 2008 global financial crisis,

The Federal Reserve may overhaul its annual stress tests for large U.S. banks to reduce the volatility of the results, but also make them more transparent. While the Fed did not offer specifics beyond general processes it’s considering, it did say in a statement the goal was not to “materially affect overall capital levels.”