Coming on the heels of the $8.5 billion settlement by a collection of banks, including Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and Bank of America (NYSE:BAC), that will be paid to those who were potentially damaged by unnecessary foreclosure during the housing collapse of 2008, Motley Fool financial analyst Matt Koppenheffer discusses the size of the affected group of people. While ideally there would have been no one foreclosed upon unnecessarily, the portrayal by the media headlines of the evil thoughtless banks "robo-signing" foreclosures by the millions may not have been entirely accurate.
Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, PNC Financial Services, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.