With the consent of the Trump Administration, on Thursday, January 18, 2018, the Financial Stability Oversight Council (FSOC), a Federal government organization established by Title I of the Dodd–Frank Wall Street Reform and Consumer Protection Act during the Obama administration, and MetLife jointly filed a motion with in the United States Court of Appeals for the D.C. Circuit. FSOC empowers the government to designate non-banks as SIFI’s, which subjects them to heightened supervisory requirements by the Federal Reserve.
The motion effectively ends a nearly two-year …
Continue Reading