Banks agree to mortage settlement

Five of the largest banks in the nation agreed to a deal with 49 states settling charges of abusive and negligent foreclosure practices since 2008.   The deal was announced on Thursday February 9th, the banks will change the way they handle and approve forclosures and will commit $26 billion to help underwater homeowners and compensate victims of the improper practices.   The five banks taking part in the settlement are Wells Fargo, Bank of America, JPMorgan Chase, Citigroup and Ally Financial.

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