Four banks fail Fed ‘stress test’

Filed under: AM Roundup |

Citigroup and three other banks failed the Federal Reserve’s stress test to judge their financial health, reports the Los Angeles Times.

The Fed tested 19 of the nation’s largest banks to see how well they’ve recovered from the 2008 financial crisis. Overall, the report was good, but progress still needs to be made.

Citigroup, AllyFinancial, SunTrust Banks and MetLife failed the test.

Read more at the Los Angeles Times.