Market Overview

Countrywide Financial Mailing Settlement Checks (BAC)


Former Countrywide Financial customers in Florida will get settlement checks as part of the settlement of a lawsuit filed in 2008.

The attorney general of Florida sued Countrywide Financial, alleging that Countrywide was involved in deceptive and unfair trade practices by allowing borrowers to take on mortgages that they couldn't afford and making loans with misleading details.

The checks of about $6,000 each, totaling $16.9 million, must be cashed on or before May 13.

Countrywide Financial was acquired by Bank of America Corporation (NYSE: BAC) in 2008 and later renamed Bank of America Home Loans.

Posted-In: Bank of America Corporation Countrywide FinancialNews Markets


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