In the case of Bank of America, much of its legal troubles were inherited with the acquisitions of Countrywide Financial and Merrill Lynch just as the market was crashing and those companies fell to bargain valuations. Bank of America CEO Brian
NEW YORK (Reuters) - Bank of America Corp urged a U.S. federal judge to impose no penalty even after a jury found it liable for fraud over the sale of defective mortgages by its Countrywide Financial unit.
NEW YORK, Nov 18 (Reuters) - Bank of America Corp's proposed $8.5 billion settlement with investors in Countrywide Financial Corp mortgage-backed securities offers almost double what bondholders...
able to buy Angelo Mozilo's Countrywide Financial in 2008, a financial institution ..... liabilities for a slew of problems that Countrywide incurred during the early excesses ..... Her leadership as head of the Countrywide mortgage unit caused her to be
BAC] Bank of America. They paid too much for Countrywide , paid too much for Merrill , and in addition to that, they were saddled ..... a ton of liabilities related to mistakes that Countrywide , especially, had made in the years leading
during the past five years. The acquisitions of Merrill Lynch and Countrywide in 2008 resulted in a bailout of the bank, and ..... deposit franchise to the "thundering herd" of Merrill Lynch 's brokers and wealth managers, is impressive
blower that brought to light Countrywide Financial 's illegal property appraisal ..... Bank of America acquired Countrywide in 2008 as part of its efforts ..... booming mortgage market. As Countrywide 's successor-in-interest
took the fatal step of acquiring subprime lender Countrywide Financial in 2008, right before the bottom dropped out. What ..... will take $20.6 billion in charges to pay for the Countrywide mess and other problems. Just think what financial
of America’s troubles began when it purchased Countrywide Financial , a large mortgage banker, for $4 billion in 2008 ..... of legacy mortgage loans that were originated by Countrywide during the period 2004-2008. The non-performance of
While Bank of America still may be able to force its Countrywide Financial entity into bankruptcy, thereby insulating itself from lawsuits associated with Countrywide 's underwriting, we doubt that this maneuver would