Banks Reach Mortgage Settlement
A group of 10 major banks reached an $8.5 billion settlementwith federal regulators over mortgage relief on Monday. The settlement will see $3.3 billion paid directly to homeowners affected by the mortgage crisis. The remaining $5.2 billion will go to other relief such as loan modifications. Did banks get off easy in the latest settlement over mortgage relief? Who will be eligible for some of that money? We'll talk with ProPublica reporter Paul Kiel about the settlement.
Paul Kiel, reporter, ProPublica