Minnesota eligible for $280 million from national mortgage settlement

The deal stems from a long-running investigation into poor foreclosure practices among the country's largest mortgage lenders. Five banks, including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, agreed to pay about $26 billion to reimburse American homeowners. This is the biggest government-industry settlement since the 1998 multi-state tobacco industry deal.
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The deal stems from a long-running investigation into poor foreclosure practices among the country's largest mortgage lenders. Five banks, including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, agreed to pay about $26 billion to reimburse American homeowners. This is the biggest government-industry settlement since the 1998 multi-state tobacco industry deal.

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