Bennet Koren
Threat of new regulations push MetLife Bank to the selling blockPosted by RJ and Makay on Jul 22, 2011 |
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MetLife, Inc. has put its MetLife Bank $16 billion asset-depository business up for sale, citing “regulations written for banking institutions” as the reason behind the move. The insurance giant, which ranks among the top 15 home lenders, would continue to write mortgages, but do so within the so-called “shadow banking system,” presumably outside the purview of new regulations under the Dodd-Frank Act.
