BREAKING NEWS: U.S. Reaches $25 Billion Foreclosure Settlement With Big Banks

The U.S. government announced that Bank of America, Citigroup, JPMorgan Chase, Wells Fargo and Ally Financial will provide $25 billion in relief to distressed homeowners and states in a settlement over mortgage-loan servicing and foreclosure abuses. President Obama will speak on the landmark settlement at 12:15 p.m. ET: Watch it live on FOX Business Network and FOXBusiness.com.

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