Banks Put Up $25B In Blockbuster Deal To Stem Housing Slide

Law360, New York (February 8, 2012, 8:17 PM EST) -- In the largest settlement between the U.S. government and the private sector in over a decade, federal and state officials reportedly struck a deal worth up to $25 billion with mortgage servicers late Wednesday over widespread foreclosure abuses.

Officials were still working out the final details late Wednesday, including how many states would sign on, though attorneys general from two of the key holdout states, New York and California, planned to participate, the New York Times reported.

California's Kamala Harris and New York's Eric Schneiderman were...
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