USB US Bancorp

The Federal Reserve on Monday released action plans for correcting mortgage-servicing delinquencies and developed by nine large financial institutions after being sanctioned last year.

The action plans are required by major banks that were sanctioned by the Fed last year for "negligence" in residential mortgage loan servicing and foreclosure processes. The nine institutions are Bank of America Corp. (BAC) , PNC Financial Serivces Group Inc. (PNC) , Everbank, Wells Fargo & Co. (WFC) , U.S. Bancorp (USB) , SunTrust Banks Inc. (STI) , MetLife Inc. (MET) , J.P. Morgan Chase & Co. (JPM) and Citigroup Inc. (C) .

-Ronald D. Orol; 415-439-6400; AskNewswires@dowjones.com