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 Fed on Monday said it planned to overhaul the stress test regime for banks and planned to seek public comment on planned changes.

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.