- At issue were mortgages issued which MetLife (NYSE:MET -0.3%) allegedly knew did not meet GSE standards, but which the insurer allowed to be insured by Frannie anyway. MetLife had previously reserved for the fine and, of course, exited the mortgage business a few years back.
- In other news, the company boosts the size of its board to 13 with the addition of Ned Kelly who has been in the financial services business for four decades, most recently as chairman of the institutional clients group at Citigroup.