Amy Radil

OLYMPIA, Wash - Financial analysts say the big banks will feel little pain as a result of the multistate mortgage settlement announced Thursday. Meanwhile consumer advocates say some homeowners defrauded by banks will receive very little restitution.

OLYMPIA, Wash. -- After a year of negotiations, states, federal regulators and five of the biggest lenders have reached a $25 billion dollar settlement to change foreclosure practices. The goal of the settlement is to impose new restrictions on banks, and to fund loan modifications for homeowners. Backers hope the agreement will also help stabilize the housing market. KUOW’s Amy Radil reports.

A police officer in Lakewood, Washington was arrested Wednesday for embezzling funds meant for the families of slain Lakewood police officers. He’s accused of diverting the donations from union bank accounts and using them for trips, gambling and home remodeling. KUOW’s Amy Radil reports.

A judge in U.S. District Court in Seattle sentenced Colton Harris-Moore, also known as the “Barefoot Bandit,” to six-and-a-half years in prison Friday. Speaking before the judge, Harris-Moore expressed remorse, said he’s lucky to be alive, and told other young people not to follow his example. KUOW’s Amy Radil reports.

Colton Harris-Moore was sentenced on seven federal counts including thefts of airplanes and weapons during his cross-country spree. He’s also been sentenced to more than seven years for state charges.