MetLife asks court to put hold on ‘too big to fail’ case
WASHINGTON – MetLife is asking a federal appeals court to put on hold a ruling on whether the government can tag the insurance giant as a potential threat to the financial system.
The insurer says in a court filing that the case should be halted pending a government report requested by President Donald Trump.
The company took the government to court in 2015 to appeal its labeling of MetLife as “systemically important” — so big and enmeshed with the financial system that its collapse could threaten the economy.
Trump last week asked federal regulators to review that decision.
A federal judge sided with MetLife last year, saying the government acted unreasonably. The government then appealed to the U.S. Court of Appeals for the District of Columbia.
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