February 1, 2018
ICYMI: MetLife Case Results in a Good Outcome, but Sets a Bad Precedent
AAF’s Director of Financial Services Policy Meghan Milloy argues in a new Washington Examiner op-ed that the outcome of the MetLife lawsuit is correct, but the result is a weakened policymaking process for the future.
On the one hand, the outcome of the case is correct: MetLife never should have been designated [as a systemically important financial institution, or SIFI] to begin with…. But the lower court’s precedent-setting decision recognizing that and requiring cost-benefit analyses going forward will now be vacated. So we have taken one step forward with MetLife as a specific entity, but several steps backward, in that future designations and actions will not legally be required to perform a cost-benefit analysis.
Click here to read the op-ed at the Washington Examiner.
To read more by Meghan Milloy on SIFIs, click here.
To read more AAF research on insurance companies as SIFIs, click here.