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Today’s Money: The new mortgage settlement

Last week, the U.S Justice Department announced a $25 billion settlement deal between the top five mortgage-lending banks and 49 states as a means of ending allegations of fraudulent foreclosure practices at these banks. The $25 billion will be used in a combination of cash payouts to consumers and credits to banks that help people keep their homes by arranging more affordable payment terms. This morning on Today, I sat down with Ann Curry to talk about what this settlement will mean for you. Take a look!

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