Fed fines 8 banks for alleged foreclosure abuses

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

The financial firms EverBank, Goldman Sachs Group (GS), HSBC Holdings PLC (HBC) PNC Financial Services Group (PNC), MetLife (MET), OneWest Bank, SunTrust Banks (STI), and U.S. Bancorpn (USB) were not part of last month's settlement over alleged foreclosure abuses.

Suzanne G. Killian, a senior associate director at the Federal Reserve, called the fines "appropriate'" during a congressional hearing in Brooklyn, N.Y. Killian said the Fed plans to announce the penalty amounts soon.

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States diverting foreclosure settlement funds

The nation's five biggest lenders last month agreed to the $25 billion settlement with state and federal government agencies last month after a 16-month probe.