MetLife to Take $250-Million Charge
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MetLife Inc. announced it will take a $250-million pretax charge against earnings to cover costs stemming from class-action lawsuits and a regulatory inquiry over allegations of race discrimination.
The lawsuits allege MetLife’s Metropolitan Life Insurance Co. charged higher premiums to black customers than to whites for less insurance coverage. The suits also allege the firm urged construction of race-based mortality tables.
The New York State Insurance Department is investigating the allegations.
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