Metropolitan Life and the Shadow Banking Controversy: Non-Bank Investment Alternatives to Traditional Banking
North East Journal of Legal Studies, Vol 35, Spring/Fall 2016
27 Pages Posted: 2 Sep 2016 Last revised: 2 May 2020
Date Written: August 2, 2016
This article examines the recent controversy between the Financial Stability Oversight Council (FSOC) and the Metropolitan Life Insurance Company (MetLife) concerning the FSOC’s final determination concerning the need for the FSOC to oversee MetLife’s shadow banking activities and the company’s continuing efforts to contest the rights of the FSOC to regulate the company’s activities. The article concludes that regulation is indeed necessary in light of comparable international regulation sand the financial ramifications of the company’s activities.
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