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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: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: 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 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.