The big banks (XLF +4.1%) reportedly are about to strike a $20B foreclosure settlement with the...

|By:, SA News Editor

The big banks (XLF +4.1%) reportedly are about to strike a $20B foreclosure settlement with the Justice Department and state attorneys general. Sources say the Administration also is pressing ahead on sweeping new guidelines to overhaul the mortgage lending industry which could be part of the deal. But California and New York apparently are still not on board.