US regulators lift strict oversight of Prudential

WASHINGTON (AP) — A group of federal regulators has lifted the strict government oversight imposed on big insurer Prudential Financial Inc. It was the last financial company still carrying the label that subjected it to special restrictions stemming from the 2008 financial crisis.

The decision by the Financial Stability Oversight Council closed the books on its actions tagging selected big financial companies as potential threats. It was the latest example in the Trump administration's push to unwind Obama-era regulatory requirements aimed at averting another financial meltdown.

The council tagged Prudential in 2013 as a "systemically important" institution, one so big and interconnected that it would threaten the financial system's stability if it collapsed. The action put Prudential under special supervision by the Federal Reserve.

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