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MetLife defeats U.S. government's too-big-to-fail labeling

A federal judge struck down the designation, rejecting the FSOCs rationale for classifying MetLife as a systemically important financial institution.

By Andrew Harris, Bloomberg, Katherine Chiglinsky | Updated on March 30, 2016
(AP Photo)

(Bloomberg) — MetLife Inc. beat back a U.S. attempt to label it too big to fail, which would’ve put America’s biggest life insurer under tougher government scrutiny and could have forced it to put more money in reserves.

A federal judge in Washington struck down the designation on Wednesday, rejecting the Financial Stability Oversight Council’s rationale for classifying the company as a systemically important financial institution. The reasons for the ruling were sealed by the judge.

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