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
Primary Offense: 
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
Private Lawsuit Resolution Type: 
settlement
HQ Country of Parent: 
USA
HQ State of Parent: 
North Carolina
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.