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Stock Market & Financial Investment News

News Breaks
March 31, 2014
13:21 EDTMETMetLife to pay $60M in fines for unlicensed insurance sales
Benjamin M. Lawsky, Superintendent of Financial Services, announced that MetLife will pay $60M for Insurance Law and other violations at its subsidiaries ALICO and DelAm, which it acquired from AIG in 2010. Investigations by the New York State Department of Financial Services, DFS, and the Manhattan District Attorney’s Office uncovered that those subsidiaries solicited insurance business in New York without a license and made intentional misrepresentations and omissions to the Department about those activities. Of the $60M, a $50M fine will be paid to DFS and $10M will be paid to the Manhattan District Attorney’s Office. MetLife has also agreed to fully cooperate with DFS’s investigation concerning Insurance Law violations by AIG, ALICO, and DelAm, and other AIG subsidiaries and affiliates related to conduct prior to MetLife’s acquisition. That investigation remains ongoing and is not resolved. Reference Link
News For MET From The Last 14 Days
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January 26, 2015
08:53 EDTMETBig name mortgage investors take step toward Ocwen lawsuit, Reuters says
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January 22, 2015
09:03 EDTMETMetLife assigned favorable judge in SIFI case, says Sterne Agee
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