KQED Nightly Business Report January 8, 2013
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 casebycase review of foreclosure practices. But that just wasnt moving fast enough, and proved too costly. Bring in todays 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 homeowner...