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MetLife Faces Challenging Transition

Jul 22, 2011By

Expressing concerns about the growing number of regulations and scrutiny on large banking institutions, MetLife Inc. announced plans to explore the sale of their depository business, MetLife Bank NA. According to the company, the banking operation attributed a small amount of their operating income and subjected the entire company to banking regulations that hindered their ability to compete with other insurance company. The move would include their depository business including savings accounts, certificates of deposit and money market accounts.  MetLife, however, intends to retain their MetLife Home Loans division and continue to offer residential forward and reverse mortgage loans.

3d rendering of a row of luxury townhouses along a street

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