MetLife Inc. yesterday asked for another delay in the long-running case over whether the U.S. government should have labeled it as "too big to fail," warning that the Trump administration may want to withdraw the government's appeal, Reuters reported. A U.S. Appeals court in May granted a 60-day abeyance in the appeal filed by the administration of Democratic former President Barack Obama. The pause ends next week. Last year a U.S. district judge invalidated the government's designation of MetLife as "systemically important," a label signifying MetLife could devastate the financial system if it failed and triggering stricter oversight. The Obama administration immediately appealed, and a panel of three judges heard arguments in the case last October. Republican President Donald Trump, however, has expressed skepticism about designations and the council of regulatory heads that assigns the labels.
