From: Morning Consult
The Obama administration on Wednesday indicated it will continue to take legal action to defend the Financial Stability Oversight Council’s designations of non-bank systemically important financial institutions, following a federal court ruling Wednesday in favor of stripping MetLife Inc. of its SIFI label.
“We strongly disagree with the court’s decision,” a Treasury spokesperson said in a statement. “We are confident that FSOC’s determination was lawful and will continue to defend the Council’s designations process vigorously.”