MetLife fights risk label by saying it’s not a U.S. finance firm
August 24, 2015 by Ian Katz and Andrew harris
(Bloomberg) — MetLife Inc.’s fight to free itself from a costly government label is increasingly focusing on a bold argument: The giant insurer isn’t actually a U.S. financial company.
In court papers filed in Washington on Friday, MetLife said it doesn’t meet the legal definition of a U.S. non-bank financial firm, in part because it has substantial foreign operations.
“Under the plain language,” of the 2010 Dodd-Frank Act, MetLife isn’t eligible for designation, because the company is not “predominantly engaged in financial activities,” MetLife said in its filing.
Originally Posted at LifeHealthPro on August 23, 2015 by Ian Katz and Andrew harris.
Categories: Industry Articles