Wall Street's Big, Bad Post-Crisis Regulator Is CautiousBy and
MetLife ruling threatened powers FSOC has been loathe to use
Few firms labeled systemically important since 2010 creation
A court ruling that erased MetLife Inc.’s too-big-to fail label has been depicted as a referendum on the future of the Dodd-Frank Act’s super regulator. But the key power that the Financial Stability Oversight Council wields -- designating firms as being so big and interconnected that their failure could threaten the financial system -- was already gathering cobwebs.
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