MetLife Says It’s Open to Challenge Lew on Risk Tag
Stock Chart for MetLife Inc (MET)
MetLife Inc. (MET), the largest U.S. life insurer, said it will weigh challenging any designation as a systemically important financial institution after smaller rival Prudential Financial Inc. abandoned its fight over the label.
“We are not ruling out any of the remedies available under Dodd-Frank to contest a SIFI designation,” Steven Kandarian, chief executive officer of New York-based MetLife, said today in a conference call.
Prudential this month opted against filing a lawsuit seeking to overturn the label as a non-bank SIFI. The tag was imposed by the Financial Stability Oversight Council, which counts Treasury Secretary Jacob J. Lew as chairman.
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