MetLife Defeats U.S. Government's Too-Big-to-Fail Labeling
- Judge's reasons for ruling are sealed while order made public
- Insurer's shares jump in New York with Prudential Financial
MetLife Beats Back Attempt to Label It Too-Big-to-Fail
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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 could have forced it to put more money in reserves.
A federal judge in Washington struck down the designation on Wednesday in a decision that could shake up the financial regulatory reform implemented following the 2008 recession. The ruling might give ammunition to Republican lawmakers who’ve argued that regulators have abused their authority under the Dodd-Frank Act.