Receiving Wide Coverage…
Round 2: Right now, the score is MetLife: 1, FSOC: 0. But the government is looking to even the odds.
MetLife won a major victory in federal district court this spring when a judge threw out its "systemically important" label, ruling that the Financial Stability Oversight Council fell short in proving that the insurer deserved the designation.
The government appealed the decision in April, and regulators filed their first detailed brief in the U.S. Court of Appeals for the D.C. Circuit on Thursday night. The council, which is represented by the Justice Department, called the lower court judge's ruling "profoundly mistaken."
For those keeping tabs, MetLife is represented in the case by Eugene Scalia, son of the late Justice Antonin Scalia, and he has
Wall Street Journal
Making lemonade: Falling interest rates have one "
Bottleneck approaching: Visa and MasterCard said they'll
Persona non grata: Stealing Federal Reserve secrets will get you barred from the banking industry and sanctioned by the Securities and Exchange Commission. Rohit Bansal, formerly of Goldman Sachs, learned that lesson
FASB finally done: Accounting standards-setters have completed their long-brewing rule that will require banks to record anticipated losses
Financial Times
Warm fuzzies: Impact investing – which focuses on monetary returns as well as social or environmental good – is
Case closed: HSBC has agreed to a record $1.6 billion settlement in a shareholder lawsuit involving the purchase of U.S. subprime lender Household International before the meltdown. The acquisition has a reputation for being "
Elsewhere…
DAO hack: The Decentralized Autonomous Organization, which controls millions of dollars of the digital currency Ethereum, suffered what appears to be a
F is for … 'formal complaint': CNBC obtained a list of more than 180 phrases that will get an internal email flagged by the Goldman Sachs compliance department.
Saber-rattling: Heads of some of the financial services trade groups are