New York and London partner Tom Dawson was quoted in a Bloomberg Business article titled, “MetLife Says Lew-Yellen Panel Spreads Risks It’s Supposed to End.” The article discussed an upcoming hearing in the suit in which MetLife is seeking to overturn [FSOC’s] “too-big-to-fail” designation.
Tom commented on MetLife’s decision to go to court. “It’s a careful calculation by any regulated business before you sue your regulator,” he said. “It can be taken, in some cases, the wrong way by regulators.”
“It’s a tough case for [MetLife] to win,” said Tom. “…basically MetLife has to show that FSOC’s decision was without any foundation, that it was arbitrary, capricious. It’s a tough standard.”