Federal Reserve Penalizes MetLife $3.2 Million For Foreclosure Abuses

The Federal Reserve will impose a $3.2 million penalty on MetLife Inc. for failing to prevent foreclosure abuses by the bank it oversees, the Associated Press reports. MetLife Bank was among the mortgage lenders cited by the Federal Reserve last year for improperly foreclosing on homeowners, and the penalty is similar to those included in a $25 billion mortgage settlement between state attorneys general, the federal government, and the nation’s five biggest banks. MetLife no longer issues home loans.