Fed fines 8 US banks for alleged foreclosure abuse

Fed fines 8 US banks for alleged foreclosure abuse

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…

The nation’s five biggest lenders – Bank of America, Wells Fargo, JPMorgan Chase, Citigroup and Ally Financial – last month agreed to a $25 billion settlement with state and federal government agencies last month after a 16-month probe.

Read Full Story on The Seattle Times…