[Federal Reserve Votes to Approve Stress Test Reforms] BlockBeats News, September 30, the Federal Reserve Board voted 6-1 to approve revisions to the annual stress test, marking a significant victory for major Wall Street lending institutions. Federal Reserve Vice Chair for Supervision, Michelle Bowman, stated in a statement on Wednesday: 'Stress testing is an important component of our regulatory capital framework. Today's reforms ensure that stress tests remain robust by making them more transparent, refined, and risk-sensitive.' The Federal Reserve noted that the finalized rules are largely consistent with the proposals introduced in 2025, which were welcomed by the banking industry at the time. The stress test was established following the 2008 financial crisis to assess the resilience of Wall Street lending institutions under hypothetical economic recession scenarios. Additionally, the Federal Reserve is seeking public input on a plan aimed at 'better reflecting differences in banks' business models for generating fee income.'