Eight More Banks to be Fined for Violations

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

The 8 banks are: EverBank, Goldman Sachs, HSBC North America, OneWest Bank, MetLife, PNC Financial Services Group, US Bancorp and SunTrust Bank. They face sanctions for “unsafe and unsound practices in their loan servicing and foreclosure processing,” the Fed said.

“Although the Federal Reserve has not issued monetary sanctions at this time against the other eight institutions that it supervises and that are also subject to enforcement actions for unsafe and unsound practices in their loan servicing and foreclosure processing, the Federal Reserve believes that monetary sanctions in those cases are appropriate and plans to announce monetary penalties against them,” said Federal Reserve director Suzanne Killian in a House Oversight Committee field hearing.

The eight banks would join five other large ones regulated by the Fed that were fined a total of $766.5 million last month for foreclosure and servicing abuses.