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U.S. court puts hold on 'too big to fail' case involving MetLife
May 12, 2017 / 8:05 PM / 7 months ago

U.S. court puts hold on 'too big to fail' case involving MetLife

WASHINGTON, May 12 (Reuters) - A U.S. appeals court on Friday granted a 60-day abeyance in a case in which the country’s largest life insurer, MetLife Inc, is challenging the federal government’s labeling of it as “too big to fail.”

More than a year ago, U.S. District Judge Rosemary Collyer struck down the government’s designation of MetLife as “systemically important,” which signifies it could devastate the financial system if it failed and triggers stricter oversight, saying the label was “arbitrary and capricious.” The administration of former President Barack Obama, a Democrat, immediately appealed. (Reporting by Lisa Lambert and Lawrence Hurley; Editing by Leslie Adler)

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