Fed Focuses on 8 Firms Not Part of Mortgage Settlement: Goldman Sachs, HSBC, US Bancorp, SunTrust, MetLife, PNC, OneWestQuicklink submitted by Amanda Lang Permalink
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|Federal regulators are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure practices involving sloppy, inaccurate or forged documents. Last week, a senior Federal Reserve official recommended fines for these additional financial institutions, raising questions about how deep foreclosure problems run through the banking industry. In addition, judges, lawyers and advocates for homeowners say that people are still losing their homes despite improper documentation and other flaws in the foreclosure process often involving these firms. The eight firms cited by the Federal Reserve -- HSBC's United States bank division, SunTrust Bank, MetLife, U.S. Bancorp, PNC Financial Services, EverBank, OneWest and Goldman Sachs...|
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