Morning Read: Big Bank Settlement; Kindergarten for All; Gillibrand’s Got Next?

Eric Schneiderman has agreed to drop his opposition to a settlement with the country’s major banks over their mortgage practices. The $26 billion settlement will provide relief to two million American homeowners.

Banks are expected to be shielded from some types of litigation by the settlement, although it is unclear what concessions were made to lasso Schneiderman, The Post reports, who had been looking for a way to continue to investigate the major banks.

A liberal financial blogger thinks this is a big win for the banks, and a surrender by Schneiderman.

Is it Kirsten Gillibrand’s turn to lead the Democratic Senate’s campaign arm?

Christine Quinn will pick up Mayor Bloomberg’s education mantle and will call for mandatory kindergarten at her State of the City address today.

Quinn will also propose a new city program that would offer low-cost loans to cover up to 50 percent of the cost of childcare for families earning between $40,452 and $111,750 annually.

Lawmakers are pushing back over what they see as an Andrew Cuomo power grab.

Yesterday’s Port Authority audit has led lawmakers in both New York and New Jersey to call for greater oversight of the agency and for a rollback of their recent toll hikes.

Carolyn McCarthy and Gary Ackerman’s districts may be merged.

Dean Skelos suggested that western New York should also lose a district.

The generous deal the hotel workers union got is unusual, and mainly the result of a booming tourism industry and the relatively low costs of health care for hotel workers.

Seven months after sponsoring a bill to run a natural gas pipeline through Queens, Michael Grimm has received $3,000 from backers of the plan.

Is the city abandoning plans to build a convention center at Willets Point? Longtime business there fear there were pushed out under false pretenses.

Shelly Silver pushed for Janelle Hyer-Spencer, an ex-beauty queen and former State Assemblywoman defeated in 2010, land a job with the state Education Department.

Greg Kelly’s accuser’s case fell apart when she couldn’t remember actually having sex with the TV newsman.

Andrew Cuomo’s plan to take over counties’ Medicaid expenses will lead to even more reduced spending on the health program for the poor.

The Times op-eds against what they call “a terrible transportation bill.”

Government forecasts paint an optimistic jobs picture.