US court to hear MetLife’s SIFI challenge

MetLife is set to challenge its designation as a systemically important financial institution in federal court, arguing that insurers don't face massive client withdrawals as banks do. The case will be the first test of the Financial Stability Oversight Council, created by the Dodd-Frank Act, and will be watched by Prudential Financial, American International Group and General Electric unit GE Capital, which also have been designated nonbank SIFIs. Bloomberg (2/9), The Wall Street Journal (tiered subscription model) (2/9)