CBS Evening News with Scott Pelley – Bank deal won’t protect federal mortgages
src=”http://i.ytimg.com/vi/NfB3aJEESRU/0.jpg” align=”left”/>The $25 billion deal between the states and major banks to provide foreclosure relief will not provide any assistance for those with federal mortgage loans, reports Bill Whitaker.
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Five major banks are close to an agreement to settle the case of deceptive practices during the foreclosure process. Anthony Mason reports at $25 billion, the deal would be the biggest single industry settlement since the 1998 tobacco agreement.
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