Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far.
Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive...
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