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MetLife challenges U.S. 'too big to fail' designation in court

Reuters The U.S. government and the country's largest life insurer squared off in federal court on Wednesday over whether regulators can designate non-banking firms as "too big to fail," one of the major reforms that followed the financial crisis. U.S. District Judge Rosemary Collyer heard MetLife Inc.'s arguments that the Financial Stability Oversight Council (FSOC) used a secretive and flawed p…