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to compromise the capital position of the bank in any way. reporter: also today, ten major banks, including bank of america settled claims they abused the foreclosure system, seizing defaulted homes without proper paperwork. the banks agreed to fix those abuses two years ago, with a case-by-case review of foreclosure practices. but that just wasn t moving fast enough, and proved too costly. bring in today s deal: the banks will pay a total of $8.5 billion. three billion of that will go to homeowners hurt by the banks; the rest, five billion to assistance programs like loan refinancing, for homeowners who are struggling. it helps current homeowners and it s going to help the marketplace at the margin. you know, the con, if there is one, is the fact that we ll never, it will make it less likely now that we ll ever get a full accounting of the foreclosure irregularities that existed. and how widespread were they, what were the types of irregularities and what were the full
VietnamRepublic-ofUnited-statesNew-yorkIsraelIranStanfordIllinoisChinaWashingtonDistrict-of-columbiaChicago to compromise the capital position of the bank in any way. reporter: also today, ten major banks, including bank of america settled claims they abused the foreclosure system, seizing defaulted homes without proper paperwork. the banks agreed to fix those abuses two years ago, with a case-by-case review of foreclosure practices. but that just wasn t moving fast enough, and proved too costly. bring in today s deal: the banks will pay a total of $8.5 billion. three billion of that will go to homeowners hurt by the banks; the rest, five billion to assistance programs like loan refinancing, for homeowners who are struggling. it helps current homeowners and it s going to help the marketplace at the margin. you know, the con, if there is one, is the fact that we ll never, it will make it less likely now that we ll ever get a full accounting of the foreclosure irregularities that existed. and how widespread were they, what were the types of irregularities and what were the full
VietnamRepublic-ofUnited-statesNew-yorkIsraelIranStanfordIllinoisChinaWashingtonDistrict-of-columbiaChicago captioning sponsored by wpbt this is n.b.r. tom: good evening. i m tom hudson. susie is off tonight. the nation s biggest banks move to put the housing crisis behind them, paying billions of dollars to settle claims of foreclosure abuse. with the fiscal cliff drama over for now, investors look to the market s next hurdle: earnings season. coming up: what to expect from corporate america s bottom lines. and we kick off a new series, n.b.r.u., our partnership with some of the nation s top universities. tonight: does maximizing shareholder value hurt the economy? that and more tonight on n.b.r. ! the nation s largest banks announced two big settlements today over the housing crisis. 10 of them are settling with federal regulators over allegations they mishandled foreclosures. and in a separate deal, bank of america and government-owned mortgage giant fannie mae settled the score over trillions of dollars worth of bad home loans. in all, the deals cost the banking industry
VietnamRepublic-ofUnited-statesNew-yorkIsraelIranStanfordIllinoisChinaWashingtonDistrict-of-columbiaChicago