HousingWire – Brena Swanson
MetLife (MET) is suing the government — that’s something that doesn’t come around often. Back in December, the Financial Stability Oversight Council used it authority under Dodd-Frank to require MetLife to address its potential threats to financial stability and designated it a non-bank systemically important financial institution. As a result, Board of Governors of the Federal Reserve System will supervise MetLife, in addition to receiving enhanced prudential standards. The council determined that material financial distress at this company – if it were to occur – could pose a threat to U.S. financial stability.
MetLife is not alone in this category though.
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