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MetLife Sues Over Too-Big-to-Fail Label by Regulators

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MetLife Inc. sued the U.S. government over a panel’s decision to label it critical to the economy, arguing that imposing higher regulatory standards will drive up the cost of financial protection for consumers.

The label would subject the company to more oversight, even though insurers already fall under a comprehensive state-level “regime that supervises every aspect of MetLife’s U.S. insurance business,” its lawyer Eugene Scalia wrote in a complaint filed today in Washington