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A collection of news and information related to Countrywide Financial Corp. published by this site and its partners.
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Enron's Jeff Skilling doesn't deserve a break
As if you didn't know this already, we're coddling criminals in America. By that I don't mean the petty drug dealers, three-strikes necklace-snatchers and other mooks filling up our state prisons; many of them are doing hard time. I'm talking about...Tags: Lawyers, Conservation, Judges, Economy, Business and Finance, Criminals
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BofA cuts 2 million customers loose
It's long been a basic tenet of the business world: You give us more business, we'll reward your loyalty with better deals. That's how cable companies operate with their service packages. That's how phone companies work. And until now, that's pretty...
Tags: Finance, Mortgages, Loans, Economy, Business and Finance, American Express Company
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AIG may pursue fraud case vs BofA over Countrywide
Reuters* AIG says misled over Countrywide securities * California judge rules in $10 billion case * Bank of America to defend against remaining claims By Jonathan Stempel May 7 (Reuters) - American International Group Inc may pursue a lawsuit accusing...Tags: American International Group, Credit Ratings, MBIA Incorporated, Mortgages, Judges
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BofA settles another mortgage lawsuit but is facing a new one
NEW YORK — As Bank of America Corp. pulls itself free from a swamp of mortgage liabilities, new troubles keep threatening to suck it back under. BofA agreed to settle a big insurer's claims over faulty mortgage bonds for $1.7 billion Monday. But...Tags: Politics, Lawyers, Trials, Lobbying, Justice System
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Flagstar to pay $110 mln to settle MBIA mortgage lawsuit
ReutersBy Nate Raymond NEW YORK, May 2 (Reuters) - Flagstar Bancorp Inc said Thursday it would pay $110 million to settle a lawsuit by MBIA Inc accusing the bank of misrepresenting the quality of loans underlying $1.1 billion in mortgage-backed securities....Tags: Laws, MBIA Incorporated, Mortgages, Judges, Economy, Business and Finance
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MBIA can continue its fraud case against Bank of America
ReutersBy Karen Freifeld NEW YORK, April 29 (Reuters) - Bond insurer MBIA Inc may pursue its case against Bank of America Corp over toxic mortgage-backed securities packaged by Countrywide Financial Corp. In decisions made public Monday, New York State Supreme...Tags: Prices, Banking, MBIA Incorporated, Mortgages, Finance
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U.S. judge questions fraud statute's use against Bank of America
ReutersBy Nate Raymond NEW YORK, April 29 (Reuters) - A Manhattan judge indicated Monday he was "troubled" by how the U.S. government applied a rarely used law in a suit against Bank of America Corp over the sale of toxic mortgages to Fannie Mae and Freddie...Tags: Laws, Lawyers, Judges, Economy, Business and Finance, Bank of New York Company
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Labor nominee Perez faces sharp questions from GOP senators
Thomas E. Perez, the former Maryland labor secretary nominated to lead the U.S. Department of Labor, faced pointed questions at his Senate confirmation hearing Thursday about whether politics influenced his decisions as the top civil rights attorney in...
Tags: Politics, Laws, Lawyers, Parties and Movements, Tom Harkin
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BofA's Countrywide In Record $500M Mortgage Settlement
Bank of America Corp. has reached a record $500 million settlement with investors who claimed they were misled by its Countrywide unit into buying risky mortgage debt. The settlement is the largest to resolve federal class-action litigation over...Tags: American International Group, Derivative Securities, Mortgages, Judges, Economy, Business and Finance
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BofA Profit Misses Estimates As Revenue Falls
Bank of America Corp., parent of Connecticut's largest bank, reported a lower-than-expected first-quarter profit and its revenue fell, sending the No. 2 U.S. bank's shares down 3 percent before the bell on Wednesday. Net income quadrupled to $2.62...Tags: Buyback, Thomson Corporation, Banking, Quarterly or Semiannual Financial Statements, Finance
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BofA quadruples its profit but disappoints investors
Bank of America Corp. quadrupled its first-quarter profit, reducing expenses and loan losses and reporting better brokerage and investment banking results, but continued to be bogged down by its mortgage operations, disappointing investors. Trying to...
Tags: Real Estate, Services and Shopping, Credit Ratings, Banking, Finance
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Letters: Numbers don't tell the full story about fraud
Re "Ex-KPMG accountant is charged," Business, April 12 For the 25 years I ran the California Community Foundation, KPMG was our auditing firm. For 10 of those years, our auditor was Scott London, the former KPMG auditor accused of fraud. I knew London...Tags: Scott London, KPMG, Trials, Insider Trading, Accounting and Auditing
May 17, 2013
|Column| Los Angeles Times
May 14, 2013
|Column| Los Angeles Times
May 7, 2013
|Story| Reuters
May 7, 2013
|Story| Los Angeles Times
May 2, 2013
|Story| Reuters
Apr 29, 2013
|Story| Reuters
Apr 29, 2013
|Story| Reuters
Apr 18, 2013
|Story| Baltimore Sun
Apr 17, 2013
|Story| Hartford Courant
Apr 17, 2013
|Story| Hartford Courant
Apr 17, 2013
|Story| Los Angeles Times
Apr 16, 2013
|Story| Los Angeles Times
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