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MetLife judge found fault with FSOC too-big-to-fail review

U.S. District Judge Rosemary M. Collyer said that the Financial Stability Oversight Councils action was arbitrary and capricious and that the panel didnt follow its own guidelines.

By Andrew Harris, Katherine Chiglinsky | Updated on April 07, 2016
U.S. District Judge Rosemary M. Collyer’s March 30 legal opinion was unsealed Thursday, April 7. (AP Photo)

(Bloomberg) – The U.S. government panel that decided MetLife Inc. was too big to fail erred by not evaluating the insurer’s vulnerability to financial distress, according to the federal judge who rescinded that designation last week.

That finding was one of several underpinning U.S. District Judge Rosemary M. Collyer’s March 30 legal opinion which was unsealed Thursday. Collyer had previously issued just a two-page order stating her conclusion and offering only bare indications for its basis.

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