Photo detail

In this Tuesday, Dec. 6, 2011, file photo, an Occupy Wall Street activist places tape on a boarded up house during a tour of foreclosed homes in the East New York neighborhood of the Brooklyn borough of New York. Goldman Sachs and Morgan Stanley announced Jan. 16, 2013, they will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

Stories this photo appears in:

Tease photo

Taxpayers will ease banks' costs in mortgage deal

Consumer advocates have complained that U.S. mortgage lenders are getting off easy in a deal to settle charges that they wrongfully foreclosed on many homeowners. Now it turns out the deal is even sweeter for the lenders than it appears: Taxpayers will subsidize them for the money they're ponying up.

Comments

Use the comment form below to begin a discussion about this content.

Please review our Policies and Procedures before registering or commenting

News Tribune - comments