MetLife Inc. beat back a U.S. attempt to label it too big to fail, which would’ve put America’s biggest life insurer under tougher government scrutiny and forced it to put more money in reserves.A copy of the MetLife civil action complaint is available here, https://www.metlife.com/assets/cao/sifiupdate/MetLife_Complaint_1-13-2015.pdf.
A federal judge [District Judge Rosemary M. Collyer] in Washington struck down the designation on Wednesday, rejecting the Financial Stability Oversight Council’s rationale for classifying the company as a systemically important financial institution. The reasons for the ruling were sealed by the judge.
***The case is MetLife Inc. v. Financial Stability Oversight Council, 15-cv-00045, U.S. District Court, District of Columbia.
Wednesday, March 30, 2016
Court Overturns MetLife Designation As 'Too Big To Fail'
Posted By Milton Recht
From Bloomberg, "MetLife Wins Court Ruling Removing FSOC's ‘Too Big to Fail’ Tag" by Andrew M Harris and Katherine Chiglinsky:
Posted 3/30/2016 11:19:00 AM