Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Countrywide Financial Corporation
Current Parent Company: Bank of America
Penalty: $3,004,100,000
Year: 2010
Date: March 24, 2010
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: The Massachusetts Attorney General negotiated an expansion of the 2008 $8.68 billion multistate settlement signed by Countrywide to resolve issues relating to abusive home mortgage practices. The new agreement provided an additional $3 billion for loan modifications nationwide along with $2.4 million in foreclosure relief in Massachusetts and $1.7 million to the state AG's office.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.