MetLife v. Financial Stability Oversight Council
In a blow to a pillar of the Dodd-Frank Wall Street Reform and Consumer Protection Act, on March 31 a federal district judge found that MetLife Inc. should not be designated a “systemically important financial institution” (SIFI) whose failure could lead to a widespread economic crisis. The ruling means that the insurer, represented by Eugene Scalia of Gibson, Dunn & Crutcher, will be exempt from the higher capital requirements and stricter supervision imposed on SIFIs by Dodd-Frank.
