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The Boston Globe

Business

$10b deal to settle foreclosure abuse claims

NEW YORK — A $10 billion settlement to resolve claims of foreclosure abuses by major lenders is expected to be announced Monday, after weeks of negotiations between federal regulators and 14 banks, several people with knowledge of the discussions said Sunday.

The settlement follows a sweeping deal in February between state attorneys general and five large mortgage lenders and covers abuses like flawed paperwork and botched loan modifications, the people said.

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