Wednesday, December 21, 2011

BofA settles Countrywide loan bias case for $350M

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Settlement announced over Countrywide loans

Illinois Atty. Gen. Lisa Madigan and federal officials Wednesday announced a $335 million national settlement with Bank of America stemming from former mortgage giant Countrywide allegedly steering minority borrowers into subprime loans and charging them higher interest rates and fees on mortgages.



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