January 19, 2018 / 1:38 AM / a year ago

MetLife, U.S. regulators agree to set aside legal fight

WASHINGTON, Jan 18 (Reuters) - The U.S. government and MetLife announced on Thursday they would jointly be seeking to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system.

MetLife and the Financial Stability Oversight Council (FSOC), a top federal panel of financial regulators, filed a joint motion to dismiss an earlier FSOC appeal.

MetLife had challenged in court an earlier FSOC decision, under President Barack Obama, to impose stricter rules on the company as a “systemically important financial institution.” The new agreement ensures MetLife will not face those heightened restrictions.​ (Reporting by Pete Schroeder; Editing by Sandra Maler)

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