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MetLife Challenges FSOC Secrecy with Document Demand

Joe Mont | June 30, 2015

The notoriously secretive Financial Stability Oversight Council will need to divulge hundreds of pages of its files if MetLife prevails in its latest legal gambit.

In December 2014, FSOC designated Metlife, the nation’s largest insurance company, as a Systemically Important Financial Institution, subjecting it to new regulatory, disclosure, and capital demands. After failing to prevail in FSOC’s appeal process, MetLife, in January, sued the agency in U.S. District Court for the District of Columbia. A Motion for Summary Judgment, reiterating the firm’s claim that its designation was neither constitutional, nor in line with the intent to the...

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