The Financial Stability Oversight Council and several amicus curiae urged the D.C. Circuit to reverse the decision by a lower court that removed FSOC's designation of MetLife, Inc. as a systemically important financial institution subject to prudential supervision by the Federal Reserve.
SIFMA and numerous financial associations filed a complaint against the Department of Labor with the U.S. District Court for the Northern District of Texas. The complaint would strike down an "overreaching" DOL fiduciary rule.
A U.S. District Court granted MetLife, Inc.'s cross-motion for summary judgment in a lawsuit that challenged the company's designation by the Financial Stability Oversight Counsel as a Systemically Important Financial Institution.
Request delivery of the Cadwalader Cabinet Newsletter.