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Violation Tracker Individual Record

Company: Countrywide Financial Corporation
Current Parent Company: Bank of America
Penalty: $34,000,000
Year: 2011
Date: July 29, 2011
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: kickbacks and bribery
Mega-Scandal: Mortgage Abuses
Violation Description: Countrywide agreed to pay $34 million to settle litigation alleging it improperly received kickbacks from mortgage insurance companies.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of Pennsylvania
Civil or Criminal Case: civil
Case ID: 2:07cv3508
Case Name: Alston et al v. Countrywide Financial Corporation et al
Private Lawsuit Resolution Type: settlement
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.