Financial Stability Oversight Council News

Senate Banking Chair Shelby Unveils Financial Regulation Reform Bill

The head of the Senate Banking Committee unveiled his long-awaited bill to toughen oversight of the Federal Reserve and ease the regulatory burden on dozens of banks, setting off what could be intense negotiations with Democrats. In legislation that Senator …

U.S. Seeks Dismissal of MetLife Suit Challenging Systemic Designation

MetLife Inc.’s lawsuit challenging its designation by regulators as critical to the economy should be thrown out, U.S. Justice Department lawyers said without making public their arguments to the judge. MetLife on January 13 became the first nonbank to challenge …

FSOC’s Woodall Warns of ‘Inappropriate’ Global Influence On U.S. Policy

Roy Woodall, a member of the U.S. panel charged with preventing another financial crisis, said he is concerned that global regulators have too much influence over policy in Washington. “International regulatory organizations may be attempting to exert what I consider …

House Bill Targets Systemic Risk Panel Transparency

A Republican congressman and a Democratic colleague have introduced a bill to shed more light on the workings of the Financial Stability Oversight Council, which watches for emerging threats to market stability. The draft bill by Florida Republican Dennis Ross …

MetLife Touts Surviving Lehman in Case Against Systemic Risk Tag

MetLife Inc. Chief Executive Officer Steve Kandarian, who is suing to reverse a U.S. finding that subjects the insurer to greater oversight, said his company’s performance in the financial crisis shows its ability to withstand turmoil. The insurer’s cost was …

MetLife to Sue to Overturn Systemically Risky Designation

MetLife Inc. said it will sue in federal court as part of Chief Executive Officer Steve Kandarian’s effort to overturn a finding that the insurer is systemically important. A complaint will be filed today in Washington to oppose the U.S. …

Legal Battle Over MetLife Systemic Risk Label Looms

U.S. regulators are close to a final decision to label MetLife Inc. systemically important, two people with knowledge of the matter said, setting up a potential legal battle with the country’s largest life insurer. The Financial Stability Oversight Council is …

Missouri Insurance Director Huff Honored for Distinguished Service

Missouri Department of Insurance Director John M. Huff has received the Distinguished Service Award from the National Association of Insurance Commissioners. He was recognized for his tenure on the U.S. Department of Treasury’s Financial Stability Oversight Council (FSOC). “I am …

MetLife Executives Appear Before FSOC to Challenge Systemic Risk Tag

MetLife Inc. Chief Executive Officer Steven Kandarian was accompanied by Washington lawyer Eugene Scalia at a hearing Monday to challenge regulators’ proposal to subject the insurer to Federal Reserve oversight, a person with knowledge of the matter said. MetLife Chief …

MetLife to Continue Fight Against Systemic Risk Designation Next Week

MetLife will plead against being branded a super-risky financial firm at a meeting next week with regulators, a company spokesman said, as the U.S. insurer tries to escape oversight by the Federal Reserve. The Financial Stability Oversight Council, a group …