AP Top News at 3:29 p.m. EST

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WASHINGTON (AP) — U.S. states reached a landmark $25 billion deal Thursday with the nation’s biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst. The deal requires five of the largest banks to reduce loans for about 1 million households at risk of foreclosure. The lenders will also send checks of $2,000 to about 750,000 Americans who were improperly foreclosed upon. The banks will have three years to fulfill the terms of the deal.

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