U.S. Treasury Secretary Jacob J. Lew said a council of financial regulators will consider changes to how it evaluates companies for systemically important designation. The Financial Stability Oversight Council “will begin to consider possible changes in the coming months” after …
Insurer MetLife said it is exploring ways to fight the U.S. government’s proposal on Thursday to deem it “systemically important” and subject it to stronger regulatory oversight. MetLife is the third insurer to be tapped for such a designation, which …
Could Warren Buffett’s Berkshire Hathaway Inc. threaten the stability of the financial system? The U.S.’s top regulators are asking themselves this question as they consider whether Berkshire and other large insurers should come under Federal Reserve oversight. The answer is …
A U.S. council of regulators is poised to label MetLife Inc. a potential threat to the financial system, subjecting the insurer to oversight by the Federal Reserve, two people with knowledge of the matter said. A decision by the Financial …
American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in 2012, and Prudential, which …
The U.S. Federal Reserve has hired a former state insurance commissioner to help it oversee non-bank financial firms that a council of regulators identified for tougher scrutiny last year. Thomas Sullivan, who led the Connecticut Insurance Department from 2007 through …
Steven Kandarian got MetLife Inc. out of banking to escape Federal Reserve oversight. Now, the insurer is fighting again to avoid the central bank’s reach. Kandarian, MetLife’s chief executive officer, has called regulatory uncertainty the primary challenge to meeting profit …
Insurance companies will urge U.S. lawmakers today to stop the Federal Reserve from imposing bank- like capital standards on their industry. A provision of the 2010 Dodd-Frank Act that overhauled U.S. financial regulation requires the Fed to set minimum capital …
