Banks Reach Foreclosure Settlement With Government

Ten banks settle civil claims over fraudulent foreclosure practices with government regulators.
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Banks Reach Foreclosure Settlement With Government
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)
Valentin Schmid
1/7/2013
Updated:
10/1/2015
<a><img class="size-large wp-image-1772453" src="https://www.theepochtimes.com/assets/uploads/2015/09/138572782.jpg" alt="" width="590" height="393"/></a>

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Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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