US Banks To Send Checks To 4.2M Who Lost Homes - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

US Banks To Send Checks To 4.2M Who Lost Homes

Posted: Updated:

WASHINGTON (AP) - The nation's largest banks will begin sending payments this week to millions of Americans who may have been wrongfully foreclosed on during the housing crisis.
    
The Federal Reserve and the U.S. Comptroller of the Currency say a total $3.6 billion in cash will be distributed to 4.2 million borrowers. Payments will range from $300 to $125,000. About 90 percent of borrowers whose mortgages were serviced by 11 of the banks will receive payments by the end of April, the agencies said.
    
The last group of payments is expected in mid-July.
    
The banks, which include Bank of America, JPMorgan Chase, Wells Fargo and Citigroup, reached a settlement with the federal agencies in January. They agreed to pay a total $9.3 billion in cash and in reductions of mortgage balances.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • National NewsMore>>

  • Hamas agrees to 24-hour holiday truce in Gaza war

    Hamas agrees to 24-hour holiday truce in Gaza war

    Sunday, July 27 2014 10:36 AM EDT2014-07-27 14:36:04 GMT
    GAZA CITY, Gaza Strip (AP) - Hamas says it has agreed to a 24-hour humanitarian truce in the Gaza war ahead of a major Muslim holiday. Hamas spokesman Sami Abu Zuhri said the truce would go into effect at 2 p.m. Sunday. The three-day Eid al-Fitr holiday, which caps the Muslim fasting month of Ramadan, is expected to begin Monday or Tuesday, depending on the sighting of the new moon.More >>
    GAZA CITY, Gaza Strip (AP) - Hamas says it has agreed to a 24-hour humanitarian truce in the Gaza war ahead of a major Muslim holiday. Hamas spokesman Sami Abu Zuhri said the truce would go into effect at 2 p.m. Sunday. The three-day Eid al-Fitr holiday, which caps the Muslim fasting month of Ramadan, is expected to begin Monday or Tuesday, depending on the sighting of the new moon.More >>
  • Dutch: 1st victim identified from Flight 17

    Dutch: 1st victim identified from Flight 17

    Saturday, July 26 2014 5:55 PM EDT2014-07-26 21:55:02 GMT
    THE HAGUE, Netherlands (AP) - The Dutch government says the first victim has been identified from the Malaysia Airlines Flight 17 disaster.The name and sex of the victim, a Dutch national, weren't released. The government said Saturday the next of kin and mayor of the victim's hometown have been informed.More >>
    THE HAGUE, Netherlands (AP) - The Dutch government says the first victim has been identified from the Malaysia Airlines Flight 17 disaster.The name and sex of the victim, a Dutch national, weren't released. The government said Saturday the next of kin and mayor of the victim's hometown have been informed.More >>
  • 3 rockets hit Israel as Hamas rejects Gaza truce

    3 rockets hit Israel as Hamas rejects Gaza truce

    Saturday, July 26 2014 5:19 PM EDT2014-07-26 21:19:11 GMT
    JERUSALEM (AP) - The Israeli military says three rockets have been fired from Gaza at Israel despite a proposed extension of a humanitarian truce in the Gaza war.Hamas spokesman Sami Abu Zuhri said the group rejected Israel's proposal to extend an original 12-hour lull by four hours, until midnight Saturday.More >>
    JERUSALEM (AP) - The Israeli military says three rockets have been fired from Gaza at Israel despite a proposed extension of a humanitarian truce in the Gaza war.Hamas spokesman Sami Abu Zuhri said the group rejected Israel's proposal to extend an original 12-hour lull by four hours, until midnight Saturday.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KHQ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.