WASHINGTON (Reuters) – MetLife has retained a top Washington lawyer in its bid to escape a plan by the U.S. financial risk council to subject it to far tougher rules, a sign the largest U.S. insurer may be preparing a legal challenge.
A MetLife spokesman told Reuters the company had retained Eugene Scalia, a partner at law firm Gibson Dunn LLP, who has successfully fought major regulatory decisions by other agencies.
WASHINGTON, Nov 3 (Reuters) – MetLife has retained a
top Washington lawyer in its bid to escape a plan by the U.S.
financial risk council to subject it to far tougher rules, a
sign the largest U.S. insurer may be preparing a legal
A MetLife spokesman told Reuters the company had retained
Eugene Scalia, a partner at law firm Gibson Dunn LLP, who has
successfully fought major regulatory decisions by other
WASHINGTON (Reuters) – The U.S. Commodity Futures Trading Commission on Monday proposed minor rule changes to ease the regulatory burden for smaller derivative market users, who have broad support in Congress.
A day before the mid-term U.S. elections, the CFTC’s new chairman Tim Massad proposed the changes so that farmers and energy firms, the original users of derivative markets, do not get unduly burdened by a raft of new rules introduced after the credit crisis.
WASHINGTON (Reuters) – MetLife, the largest U.S. insurer, will make a final plea on Monday to a group of U.S. regulators determined to subject it to tougher oversight as they probe which firms could pose a risk to the larger financial system.
MetLife will meet behind closed doors the heads of the agencies grouped together in the Financial Stability Oversight Council (FSOC), who want the Federal Reserve to oversee MetLife’s business and force it to meet higher capital standards.
WASHINGTON (Reuters) – The Depository Trust & Clearing Corp on Wednesday dropped a lawsuit against the U.S. swaps regulator, a court document showed, ahead of what two sources said was a possible rule change by the agency.
DTCC, which performs back-office services for the Wall Street banks that own it, last year sued the Commodity Futures Trading Commission, which oversees swaps and futures trading, in a dispute over access to potentially lucrative data.
WASHINGTON, Oct 29 (Reuters) – U.S. market operator the
Depository Trust & Clearing Corporation dropped its lawsuit
against the U.S. Commodity Futures Trading Commission in a
dispute about access to potentially lucrative trading data, a
court document showed on Wednesday.
The change of heart was because the CFTC, which regulates
the trading of swaps and futures, is considering a change to its
rules under its new chairman, Tim Massad, a source within the
WASHINGTON, Oct 28 (Reuters) – MetLife will plead
against being branded a super-risky financial firm at a meeting
next week with regulators, a company spokesman said, as the U.S.
insurer tries to escape oversight by the Federal Reserve.
The Financial Stability Oversight Council, a group of the
main U.S. watchdogs, last month proposed adding MetLife to a
small group of non-banks subject to tougher supervision because
of their critical role in the financial system.
WASHINGTON, Oct 27 (Reuters) – The five biggest U.S. retail
banks added 25 million new deposit accounts since 2010, a study
showed on Monday, a sign that banks can continue to grow despite
a lack of public trust after the credit crisis.
Benefits perceived by clients, such as the easy availability
of cash points and a large branch network, were one of the
reasons not to break up the big banks, said the Bipartisan
Policy Centre, a centrist research group.
NEW YORK/WASHINGTON (Reuters) – The White House has told states that have imposed mandatory quarantines for some travellers from Ebola-hit West Africa that the policy could impede the fight against the disease, while the first health worker isolated under the rules plans to sue.
Kaci Hickox, a nurse placed in 21-day quarantine in a New Jersey hospital after returning from treating Ebola patients in Sierra Leone, will contest her quarantine in court, her attorney said on Sunday, arguing the order violates her constitutional rights.
WASHINGTON, Oct 26 (Reuters) – A nurse held in quarantine
under new Ebola rules imposed by three U.S. states sharply
criticized the order that put her in isolation in New Jersey on
Sunday, saying she was healthy and that politicians shouldn’t
meddle in medical decision-making.
Kaci Hickox, quarantined after landing at Newark Liberty
International Airport on Friday en route from Sierra Leone, said
she posed no threat to public health even though she cared for
Ebola patients. She said she has shown no symptoms of the deadly
disease, the only time an Ebola patient is contagious.