A group of 10 mortgage providers have agreed to pay a total of $8.5bn as compensation to end a US government-mandated review of housing crisis foreclosures.
Bank of America Corp, Citigroup Inc, JPMorgan Case & Co, Wells Fargo & Co, MetLife Bank, and five others will pay $3.3bn directly to eligible borrowers, and $5.2bn in loan modifications and forgiveness, regulators said.
A total of 3.8 million people are eligible for payments under the deal announced by the Office of Comptroller of the Currency and the Federal Reserve.
Al Jazeera's Alan Fisher reports from Washington, D.C.
