Violation Tracker Individual Record
Company:
Countrywide Home Loans
Current Parent Company:
Bank of America
Penalty:
$8,680,000,000
Year:
2008
Date:
October 6, 2008
Offense Group:
financial offenses
Primary Offense:
mortgage abuses
Violation Description:
Countrywide Home Loans, Countrywide Financial Corporation and Full Spectrum Lending agreed to an $8.68 billion settlement -- including $8.4 billion in loan modifications -- to resolve multistate litigation dealing with predatory home mortgage practices.
Level of Government:
state
Action Type:
agency action
Agency:
Multistate Attorneys General Case
Civil or Criminal Case:
civil
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
Link to Archived Court Document:
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.
