Banks Reach Foreclosure Settlement With Government
Ten banks settle civil claims over fraudulent foreclosure practices with government regulators.
A foreclosed home stands boarded up in Islip, N.Y., in this file photo. Ten banks were part of a civil settlement with the Federal Reserve Board and the Office of the Comptroller of the Currency. They agreed to pay 3.8 million borrowers $3.3 billion in cash and $5.2 billion in other assistance, such as loan modifications. Spencer Platt/Getty Images
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