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March 08, 1994|From Times Staff and Wire Reports

MetLife Fine Could Reach $20 Million: Metropolitan Life Insurance Co. agreed to pay up to $20 million to settle charges that its agents misled life insurance customers. The company, known for its ads featuring Snoopy, was accused by Florida officials of fraudulently selling policies to nurses who thought they were buying retirement savings plans. The fine would be divided among the states according to the number of affected policyholders. Florida would get the most, at $4.3 million. MetLife has already agreed to reimburse customers who were misled, which the company expects will cost about $30 million.

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