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Mortgage Giant Countrywide Investigated for Securities Filings

HeadlineMar 10, 2008

Federal investigators have opened a criminal probe into the mortgage giant Countrywide Financial. Countrywide holds one-in-six home loans in the United States. The Justice Department says it’s looking into whether Countrywide gave misleading information on its financial condition in the company’s security filings. Bank of America announced the purchase of Countrywide last month, pending regulatory approval.

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