MetLife Judge Called FSOC Review Process `Fatally Flawed'
- U.S. court unseals ruling, reasons for lifting designation
- Financial Stability Oversight Council lost lawsuit March 30
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The U.S. government panel that decided MetLife Inc. was too big to fail erred in not analyzing the insurer’s vulnerability to financial distress, according to the federal judge who rescinded that designation last week.
U.S. District Judge Rosemary M. Collyer in Washington called the council’s determination process “fatally flawed” in a March 30 legal opinion which was unsealed Thursday. The judge previously issued just a two-page order stating her conclusion and offering only bare indications of its basis.