Treasury Pledges to Defend SIFI Labels Following MetLife Ruling

From: Morning Consult

Ryan Rainey

The Obama administration on Wednesday indicated it will continue to take legal action to defend the Financial Stability Oversight Council’s designations of non-bank systemically important financial institutions, following a federal court ruling Wednesday in favor of stripping MetLife Inc. of its SIFI label.

“We strongly disagree with the court’s decision,” a Treasury spokesperson said in a statement. “We are confident that FSOC’s determination was lawful and will continue to defend the Council’s designations process vigorously.”

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