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Countrywide to Pay $600 Million Settlement

HeadlineAug 03, 2010

Countrywide Financial has agreed to pay $600 million to settle shareholder lawsuits in the largest payout so far from the subprime mortgage crisis. The settlement would end several class action lawsuits that claimed Countrywide concealed mounting risks as it loosened its standards for loans. As part of the settlement, Countrywide didn’t have to admit any wrongdoing.

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