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Article: Calif. attorney general sues Countrywide Financial
- Article from:
- AP Online
- Article date:
- June 25, 2008
- Author:
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Countrywide Financial Corp. is accused of using misleading advertising and other unfair business practices to trick borrowers into taking on risky home loans they didn't fully understand, in a lawsuit filed Wednesday by the California attorney general's office.
The lawsuit _ filed on the same day Countrywide shareholders were scheduled to vote on the company's takeover by Bank of America Corp. _ stems from information gathered under subpoena after the state launched a probe last year into the troubled company's business.
It also came on the same day Illinois attorney general filed a lawsuit alleging Countrywide engaged in "unfair and deceptive" practices to get ...