In an unprecedented move, leading US banks including JPMorgan, Citibank, and Goldman Sachs are considering suing the Federal Reserve. Spearheaded by lawyer Eugene Scalia, this legal challenge seeks to oppose new Fed rules mandating banks to hold 20% more cash, a requirement banks argue is excessively stringent. This potential lawsuit marks a significant departure from traditional regulatory negotiations, highlighting growing tensions in the banking sector over liquidity requirements.
