bankamerica issued a statement saying at some point, bankamerica cannot be expected to compensate every entity that claims losses that were actually caused by the economic downturn. each year, thousands of people have errors in their credit reports that could prevent them from getting a loan or even a job. now people who can i get the company to change those errors that negatively impact report have an additional place to go for help. >> she is a food service employee at a washington, d.c. high school. she would like to be out here among the ranks of food truck owners. the reason she is not is because she bought a bad -- got a bad credit report and can i get a loan from her business. >> a la the stuff on their -- a lot of the stuff on there were mistakes. >> 79% of all credit reports have some type of error. >> that small error on the report like a new collection that is not my can affect you. >> he is helping her resolve the problem. >> he specializes in negotiating with credit companies to correct reports. >> there's a deadline -- in-line between doors that open and doors that close.

bankamerica says it will pay nearly two and a half billion dollars.bank's acquisition of merrill lynch. investment save pfa misled them. bankamerica denies the allegation and said the settlement is to make the lawsuit away. and a half% today on the news. up next, you might think you have a perfect credit score, but does your lender agreed? a new report shows there may be a difference between what you think and what you have. we are looking for you and your money next. ♪ ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. lori: your credit score may not be what it seems. major discrepancy between as ♪ lori: in focus tonight, you and your 40-ton credit score. do you know which one year went to the lender is looking at? it turns up the when you receive as a consumer might not be the same credit score a potential lender receives causing huge pr

charles: two weeks ago bankamerica says cutout mortgage operations, layoffs 16,000 and it baffles the. do have any resentment they could step up and access the taxpayer money? is there any resentment at all? >> no. please put my phone number of for those good loan officers that will be laid off. [laughter] we actively hiring. >> i agree with that when the world was falling apart there is really only six banks but everyone said they go under we all go under but could they have stepped in to fill the breach? >> some of the larger banks would pick up a larger company is. then we focus on small business we have a lot of money to lend. we would have stepped up for that. we could add of picked up the slack but it would have worked. charles: i hope people remember this next time. they're scary and in trouble but guys like you keep america running. we appreciate you coming charles: after defaulting twice and asking the treasury for more than $11 billion cash-strapped post office has a plan to spend more money does not have. with a $15,000 buyout to the full time you did workers. this is anoth

government is suing bankamerica for a billion dollars.ustice department alleges the bank committed fraud by selling defective mortgages from a program known within the bank as the hustle. the mortgages were purchased by mortgage finance firms, fannie mae and freddie mac. the complaint says of lead to more than a billion dollars of losses for tax payers and countless for closures. the government was started by countrywide financial but continued after it was purchased by bank of america in 2008. bank of america has not yet commented. thousands of people find errors in their credit reports that could prevent them from getting a job or possibly getting a loan. starting this week, there is some help out there. a federal watchdog organization is stepping in to help consumers of the complaints. >> your credit report is in many ways your lifeline to the financial world. so what happens when it's wrong? a federal agency is giving people one more way to get the complaints resolved. >> a food service employee at a washington d.c. high school would

connecticut -- bankamerica would end and j.p. morgan would close their doors and got a business. but it is a serious hit into commerce, or what remains of commerce. it is crazy. >> the larger problem here is we need to make very substantial changes in the tax and budget regime we have. very serious changes that will hurt. so nobody wants to do it. the worst thing that happened is we do not do any of them until we have a crisis, a really horrible crisis, and defaulted on the debt would be pretty bad if it were allowed to happen for more than a day or two. a horrible crisis can happen in other ways. for example, and this is something we really have to pay more attention to, the previous 10 leaders of the council of economic advisers -- maybe it was more -- from both parties, last year, jointly signed an open letter to congress and the administration saying, if we do not get this situation under control, one day, and no one knows when it will be, but for sure, one day, the bond market, all the people and institutions in the world to lend that money to the united states, will demand

the giants go and for the three bankamerica.e bottom of the 10th, sergio romo who was a close are for most of his career is back in that role. here is jeremy fl. we'll hear from him coming out. pablo sandoval was named mvp of the series. he got things going in game 1 to help seal the deal for the mvp title. three home runs and that first game. he is t struck out miguel cabrera for the final out. for the better part of the morning had been out here and i can tell you there is a fog over the stadium right now. a lot of giants fans have the same fog over them this morning after at an unbelievable victory last night. is this entitle and three years. it is, after a party with broken glass and people wandering around transit route, the had the night before. thousands of people turned out to watch on the big screen as the giants finally closed out last night. it was not just the civic center that went crazy last night. it was every buyer an apartment house in santa rosa. these people were assembled celebrating. i had chances of the fan

our government should buy into bankamerica more often than to aig.me of the costs also went to helping the homeless there were under water. it was not perfect or ideal but from time to time when trouble hits we have to trust our government to do the right thing and i think they did do the right thing in hindsight. it worked out well. >> and then we also have microsoft. x box is getting into the cloud music arena with some other big-name companies like apple, pandora. apple pretty much missed the internet thinmusic thing. the microsoft service is going to do everything perfectly. you by now you on it for life. you never hear that and microsoft paired together in the same sentence. >> is a great service. the news item to this kind of line. will this catch on for microsoft? again $9.99 since per month. it is part pandora part i tunes. how many times have i bought an album and had to revise it on cd on cassette. and microsoft is showing apple what they need to do and leading the way. addition to access it from all these different vice. >> at our last win

. >> bankamerica.veryone in sarah pacifca is gearing up for the celebration of the giants win. >> good morning i'm at the very beginning. still pretty quiet not a lot of fans. they are ready to concede the barricades. back here you can see how the barricades, this is where the flows will gather. this is at the very beginning this is mission street i have to tell you they plan to close off mission street around 10:00 a.m. this morning. now people can get through coming in at 10:00 a.m. you will no longer be able to get through mission street and go on to the embarcadero this will be shut down. they will wind up with barricades. everyone getting ready for the big parade and try to make sure the fans on the other side of the barricades. they are being very strict. it will not be as loose as it was the first parade were people wore a will to come back and forth and jump through the barricades at the beginning of the parade and say hi to the players. there will be stripped of that. plenty of space if you wa

this is unique large in part because bankamerica was aggressive and acquired countrywide financial. blame here. i grew up hearing do not pay two times more than your income for >> there is enough blame here to go around for everyone isn't there? >> microsoft is cannot generate the buzz that apple does with its products. this tablet is almost like a computer. >> the base unit has basically 16 gig of memory but eight games of that is tied up in the operating system. the operating system is at stake here. the growth of mobileo+' abo doing pretty well >> the last five years have been good to apple. 10 years ago we were talking companies like aol. things change about every five years. >> let's talk about hockey we have new game information about that. >> the winter classic would be a great game. gary bettman this is an interesting conversation. i wish i had a canadian beer talking to about it. these perak players are played incredibly well to play a game. most of the owners made their money and things like aol not necessarily thin ar. ma aol not necessarily his kids. the season-ticket fa

guest: there is a lot of lenders -- the big banks like bankamerica and wells fargo, last year got outf making these loans. those are the biggest companies in terms of mortgages in the united states. they got out of it in part because property values were declining and it was hard to value the property itself. it was not clear the ability of the senior citizens to pay the loans and they were controversial. there were stories out there about how people were losing their homes at increasing rates. small mortgage lenders are doing it now. the primary expense for them is that they are making money on the front and with the fees they get and they can be considerable. they are higher than typical mortgage fees. it is also the interest rates. the interest you are paying on this loan increases throughout the life of loans to the banks will make it through that interest schedule. host: we're talking with patricks got about reverse mortgages and like all -- the audience to get involved -- were talking with scott patrick about reverse mortgages. we would like the audience to get involved. the num