The Federal Reserve is imposing $3.2 million in penalties against MetLife Inc. for failing to prevent foreclosure abuses by its bank subsidiary, the Associated Press reported yesterday. MetLife Bank was among 16 major mortgage lenders and servicers cited by the Fed and other U.S. regulators in April 2011 for improperly foreclosing upon homeowners in 2009 and 2010. New York-based MetLife said yesterday that it has gotten out of the home loan business and is also exiting retail banking.
