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March 31, 2016

Wall Street Reform Group Seeks to Unseal MetLife Ruling

“The public advocacy group Better Markets is calling on a federal court to explain why it has decided to seal an opinion, delivered Wednesday, that struck down MetLife’s designation as a systemically risky nonbank.

“The motion, which updates a similar motion asking parties in the suit to demonstrate the reasoning behind the court’s decision to seal MetLife’s motion for summary judgment, calls on the court to require parties in the suit to demonstrate “why the record, briefing, and opinion in this action should not be unsealed.” MetLife brought the suit against the Financial Stability Oversight Council, an interagency panel tasked with identifying systemically risky nonbanks.”

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Read the full American Banker article by John Heltman here.

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