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MetLife’s ‘too big to fail’ tag is ‘arbitrary, capricious’: U.S. judge

By Lisa Lambert WASHINGTON (Reuters) – Federal regulators' decision to designate insurer MetLife Inc as “too big to fail” was “arbitrary and capricious,” the U.S. judge who struck down the determination last month wrote in an opinion that was unsealed on Thursday. The U.S. government plans to appeal the court decision, a Treasury spokesman said in a statement late on Thursday. Treasury Secretary Jack Lew said he strongly disagreed with the decision and the government would vigorously defend the work of the Financial Stability Oversight…

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MetLife’s ‘too big to fail’ tag is ‘arbitrary, capricious’: U.S. judge

statement-late

U.S. succeeds in cracking Apple’s iPhone, drops legal action

The U.S. Justice Department said on Monday it had succeeded in unlocking an iPhone used by one of the San Bernardino shooters and dropped its legal case against Apple, ending a high-stakes legal battle but leaving the broader struggle over encryption unresolved. The abrupt end to a confrontation that had transfixed the tech industry was a victory for Apple, which vehemently opposed a court order obtained by the Justice Department that would have required it to write new software to get into the iPhone. “From the beginning…

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U.S. succeeds in cracking Apple’s iPhone, drops legal action