GE Capital is a “smaller, safer financial services company,” said the company’s chairman, Keith Sherin. Earlier this year, MetLife won a crucial ruling challenging FSOC’s decision that it too was too big to fail. The Treasury Department is fighting the ruling, which public advocates have warned could cripple the government’s ability to prevent another financial crisis. It also comes as regulators are under pressure to prove that the systems put in place to prevent future taxpayer bailouts of “too big to fail” institutions is working. GE had fought for years to shed its “too big to fail” designation, aggressively shrinking the footprint of its finance business, including selling its credit card unit, and recasting itself as an industrial company that makes airplane engines, trains and other massive manufacturing equipment.

Source: Washington Post June 29, 2016 16:16 UTC