April 19, 2017
With no sign of a replacement in the works, the U.S. insurance industry is pushing to prevent the departure of a key figure on the federal body that determines how large insurance companies are regulated. Roy Woodall, the sole independent …
March 31, 2017
A Republican member of the Senate Banking Committee said on Thursday that he was “frustrated” that the Trump administration had not yet dropped the government’s case against Metlife Inc., an insurer challenging its “too big to fail” designation. Senator Pat …
March 29, 2017
Key Senate Republicans urged the Trump administration to rethink the process for labeling firms whose failure could threaten the financial system, arguing it has led to substantial regulatory costs. The Financial Stability Oversight Council, a panel of regulators with authority …
March 1, 2017
Congressional Republicans are taking aim at the regulatory process through which some financial institutions become subject to heightened regulation because they are deemed too big to fail. In a report released on Tuesday, Republican staff members of the House of …
February 6, 2017
President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put …
January 26, 2017
Although the Financial Stability Oversight Council created by the Dodd–Frank Wall Street Reform Act could serve an incredibly useful purpose, FSOC’s activities so far have been misguided, an insurance regulator said last week. Ted Nickel, president of the National Association …
October 25, 2016
The U.S. government and the country’s largest life insurer are set for a rematch in a U.S. appeals court on Monday over how federal regulators decide a company is “too big to fail,” one of the most significant reforms to …
August 29, 2016
The National Association of Insurance Commissioners (NAIC) has appointed Peter L. Hartt, director of New Jersey’s Insurance Division, to a two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council (FSOC). Hartt will represent the interests …
June 29, 2016
General Electric Co. won approval to drop its designation as a too-big-to-fail financial institution, capping a transformation that has included the sale of nearly all of its lending business. The decision marks the first time a company has been granted …
June 24, 2016
A federal court’s striking down of the government’s designation of insurer MetLife Inc as “too-big-to-fail” could undermine efforts to head off another financial crisis, authors of the landmark Dodd-Frank Wall Street reform law said. In a brief filed on Thursday …