10 Banks Involved In Huge Foreclosure Settlement - Los Angeles Local News, Weather, and Traffic

Ten banks agreed to pay $8.5 billion to borrowers as part of a federal agreement to end a review of foreclosure abuses.

Investigative producer Heidi Cuda says about 700,000 California borrowers may be receiving settlement money. Bankruptcy attorney Erik Clark, who specializes in stopping foreclosures, tells Cuda the banks got off easy.

For information on California's new Homeowner Bill of Rights, which offers additional foreclosure protections, CLICK HERE.