Tag: flawed-process
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U.S. district judge strikes down designation of MetLife as ‘too big to fail’
U.S. District Judge Rosemary Collyer on Wednesday struck down the designation made by the heads of the country's financial regulatory agencies that major insurer Metlife Inc. is systemically important to the U.S. financial system. MetLife had argued in court that the Financial Stability Oversight Council (FSOC) used a secretive and flawed process when, in 2014,…