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Published: Tuesday, 3/20/2012

Fed to fine 8 more banks after foreclosure probe


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

The firms — EverBank, Goldman Sachs Group Inc., HSBC Holdings PLC, PNC Financial Services Group Inc., MetLife Inc., OneWest Bank, SunTrust Banks Inc., 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 Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc., and Ally Financial Inc. — agreed last month to a $25 billion settlement with state and federal government agencies last month after a 16-month probe. They are to reduce mortgages for about 1 million homeowners and to pay into a fund that will send $2,000 to 750,000 homeowners who were improperly foreclosed upon.

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