CNN’s Ali Velshi sheds light on bank foreclosure payback

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U.S. banks have taken another step to clear away the wreckage of the 2008 financial crisis. JPMorgan Chase, Bank of America, Wells Fargo and seven other banks have agreed to pay $8.5 billion to homeowners who were wrongfully thrown out of their homes.

But the deal is not meeting the approval of consumer advocates and some former homeowners.

CNN Chief Business Correspondent Ali Velshi spoke with Penny Griego and Phil Hulett to shed some light:

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