Wednesday, March 30, 2016

Court Overturns MetLife Designation As 'Too Big To Fail'

From Bloomberg, "MetLife Wins Court Ruling Removing FSOC's ‘Too Big to Fail’ Tag" by Andrew M Harris and Katherine Chiglinsky:
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 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.
A copy of the MetLife civil action complaint is available here,

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