Washington Co. Commissioner Arrested
By
The Associated Press
Published: Mon, June 30, 2008 - 6:53 pm
against Countrywide Financial Corp. for what Attorney General Bill
McCollum calls misleading and unfair trade practices.
McCollum said details of the state's suit against the
California-based mortgage lender will be announced Tuesday at a
news conference.
Illinois and California sued Countrywide last week, accusing the
company of persuading homeowners to apply for risky mortgages far
beyond their means.
Countrywide is in the process of being sold to Bank of America.
The Charlotte-based bank expects to close the deal July 1, having
received the go-ahead from Countrywide shareholders last week.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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