Business News: Payments in foreclosure settlements

Business News

(CNN) - On Friday, some homeowners and former homeowners will start getting checks in the mail. It's all part of a settlement between the government and 13 mortgage servicers over foreclosure abuses. $3.6 billion dollars will be given out to more than four million borrowers. The payments will range from $300-dollars to $125-thousand dollars.

(CNN) - This year's crop of college graduates will have a tough time finding a job. That's according to a new report by the Economic Policy Institute. 8.8 percent of recent college grads are unemployed, according to Labor Department data. More than 18-percent are underemployed. And, as of last year, 52-percent of college grads under 25 are not working in jobs that require a college degree. The report says the best way to improve the situation for college grads is to improve the overall labor market. The economic policy institute says it is a non-profit, non-partisan think tank.



(CNN) - Looks like full Saturday mail delivery will continue -- at least for now. The US Postal Service announced Wednesday that it is putting off plans to stop delivering regular mail on Saturdays. The Postmaster General wanted to stop Saturday mail deliveries beginning in August to save the agency $2 billion dollars a year. The Board of Governors of the US Postal Service still wants to make the changes.


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