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Title: Illinois Accuses Countrywide of Discrimination [USA]
Visit: Illinois Accuses Countrywide of Discrimination [USA]
Author:
Edvard Pettersson, Bloomberg
Dated:
29 Jul 2010
Illinois Attorney General Lisa Madigan filed a lawsuit against Bank of America Corp.’s Countrywide unit claiming the...mortgage lender steered minority borrowers into risky subprime mortgages more than it did white borrowers who were similarly situated...Minority borrowers also paid more than other borrowers..., Madigan said. “Countrywide’s illegal discriminatory lending practices destroyed the wealth and dreams of thousands of African American and Latino homeowners,” Madigan said in the statement. “Bank of America needs to be held accountable by taking financial responsibility for cleaning up the devastation of the predatory company that it chose to take over.” The case is the People of the State of Illinois v. Countrywide, 10CH27929, Circuit Court of Cook County, Chancery Division...
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