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Jack Lew
MetLife designated too big to fail
MetLife designated too big to fail

Federal regulators Friday designated MetLife Inc. for special oversight, saying the insurer is so big that its failure or other major problems would pose a threat to the U.S. financial system. In a 9-1 vote, the Financial Stability Oversight Council -- a panel of top regulators chaired by Treasury Secretary Jacob J. Lew -- determined that MetLife was a systemically important financial institution. The designation was created by the 2010 Dodd-Frank overhaul of financial regulations. Such firms are subject to tougher oversight by the Federal Reserve that could include requirements to hold more capital as a cushion against losses. “After a year and a half of extensive and...

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