US banks to pay $8.5B in mortgage s

US banks to pay $8.5B in mortgage settlement
Associated Press

People pass a Bank of America brach, in New York, Monday, Jan. 7, 2013. Bank of America will pay $10.3 billion to the government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash. (AP Photo/Richard Drew)

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