Fed Fines 8 More Banks on Foreclosure Violations

Monday, 19 Mar 2012 04:09 PM

 

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The Federal Reserve said Monday that it plans to fine eight additional U.S. bank holding companies for improperly foreclosing on homeowners.

The financial firms — EverBank, Goldman Sachs Group, HSBC Holdings PLC, PNC Financial Services Group, MetLife, OneWest Bank, SunTrust Banks and U.S. Bancorp — were not part of last month's settlement over alleged foreclosure abuses.

Suzanne G. Killian, a senior associate director at the Federal Reserve, called the fines "appropriate" during a congressional hearing in Brooklyn, N.Y. Killian said the Fed plans to announce the penalty amounts soon.

The nation's five biggest lenders last month agreed to the $25 billion settlement with state and federal government agencies last month after a 16-month probe.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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