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On July 9, it became official: The Federal Stability Oversight Council designated American International Group (AIG) as a systemically important financial institution (or SIFI), pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Two more firms—GE and Prudential Financial—were also named as SIFIs. GE will accept the designation, while Prudential has appealed and says it plans to fight the SIFI tag.

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