5 Things to Know This Morning

May 29, 2013— -- Your look at the five biggest and most buzz-worthy stories of the morning.

1. Bachmann Won't Run for Re-Election

Minnesota Rep. Michele Bachmann announced she will not run for a fifth term in Congress next year. Bachmann, who ran for the Republican presidential nomination last year, announced her decision in a video on her website.

2. Bank Accused of $6B Money Laundering

Federal prosecutors have charged seven men from digital currency exchange Liberty Reserve with laundering more than $6 billion in illicit funds. The Costa Rica-based company has been accused of abetting multiple crimes such as child pornography, computer hacking and drug trafficking by allowing cash to move quickly around the world.

3. Home Prices Soar to Biggest Gains in 7 Years

The Standard & Poor's Case-Shiller Home Price Index, the leading measure for the U.S. housing market, released their biggest gains in seven years, which could hint at increased consumer confidence.

4. US Mom Held in Mexico on Drug Charge

Yanira Maldonado, the Arizona mom detained in Mexico on drug charges, will appear in court today as a judge decides whether she will remain in Mexico or be released. Mexican authorities claim to have found 12 pounds of marijuana under Maldonado bus seat.

5. Ex-Div. II Champ QB Found Dead

Ex-Division II college football champion Cullen Finnerty has been found dead in Michigan after a three-day search. Finnerty, a former Grand Valley State University quarterback, went missing Sunday near his family's cottag. His body was found about a mile away.