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Violation Tracker Individual Record

Company: Countrywide Financial Corp.
Current Parent Company: Bank of America
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $84,548,000
Year: 2008
Date: December 23, 2008
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Countrywide agreed to pay over $84 million, mostly in loan modifications, in settlement of allegations it sold predatory loans by misrepresenting loan terms, loan payment increases, and borrowers' ability to afford loans.
Level of Government: state
Action Type: agency action
Agency: Hawaii Department of Commerce and Consumer Affairs
Civil or Criminal Case: civil
Facility State: Hawaii
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)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.