Metlife 'Disappointed' By Its New Regulatory Status
Metlife Inc (NYSE: MET) confirmed its designation by the U.S. Department of the Treasury as a systemically important financial institution Thursday, a status that will lead to increased regulatory oversight.
Metlife closed Thursday at $54.03, up 4.3 percent.
The New York-based life insurance company had received a preliminary designation as "systemically important" in September from Treasury's Financial Stability Board under Dodd-Frank Act financial reforms.
MetLife now has 30 days to seek judicial review of the board's decision, and said it "will carefully review the designation rationale as it considers its next steps."
The company said it's "disappointed" by the decision which will "lead to higher prices and less choice for consumers, and ultimately could result in less financial protection for middle-class families."
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