Treasury Secretary Jacob Lew on Thursday said he "strongly disagreed" with a federal judge ruling rescinding the government's determination that MetLife Inc. is a systemically important financial institution. "This decision leaves one of the largest and most highly interconnected financial companies in the world subject to even less oversight than before the financial crisis," Lew said in a statement. He said Treasury would continue to defend the Financial Stability Oversight Council's ability to designate nonbank financial companies as systemically important "is a critical tool" to address potential threats to financial stability. "We intend to continue defending vigorously the process and integrity of FSOC's work, and I am confident that we will prevail," he said.
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