The Fed Is About To Fine A Bunch Of Banks That Weren't Involved In The $25 Billion Foreclosure Settlement

crush stomp footMore banks to get stomped


Remember the $25 billion foreclosure settlement a bunch of banks reached with state governments last month?Right, how could you forget. That said, the settlement, which mostly addressed bank’s illegally robosigning homeowners into foreclosure, only included a few big banks — Bank of America, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc. and Ally Financial Inc. (formerly GMAC).

Now the Associated Press reports that the Fed plans to fine 8 more banks for “foreclosure abuses”. This round of banks includes EverBank, Goldman Sachs Group Inc., HSBC Holdings PLC, PNC Financial Services Group, MetLife Inc., OneWest Bank, SunTrust Banks and U.S. Bancorp.

We don’t know how much the Fed plans on fining the banks, but we’ll let you know when we get the numbers.

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