MetLife fined $3.2 mln for "unsound" foreclosures - Fed

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MetLife fined $3.2 mln for “unsound” foreclosures – Fed

MetLife fined $3.2 mln for “unsound” foreclosures – Fed

Just a regular day in the banking industry. What, who will be next today?

This just never ends.


Reuters-

The Federal Reserve said on Tuesday MetLife Inc, the largest U.S. life insurer, will be charged $3.2 million for “unsafe and unsound” practices in loan servicing and foreclosures.

The regulator said the firm failed to adequately oversee such operations at its subsidiary bank, adding that this is the maximum penalty it could assess in circumstance under existing law given the size of MetLife’s foreclosure activities.

[REUTERS]

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