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FCPA Blog Daily News

Entries in Countrywide Financial Corp. (4)

Thursday
Dec182014

Mortgage ‘hustle’ whistleblower collects $57 million

A former Countrywide Financial vice president who filed a False Claims Act lawsuit alleging fraudulent mortgage and securities practices is collecting $57 million from Bank of America's $16.65 billion federal penalty.

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Monday
Sep082014

First BP, then BofA: Could an FCPA defendant be next?

Attorney General Eric Holder announces Bank of America's $16.7 billion settlement on August 21, 2014.Two recent blockbuster DOJ settlements have two things in common: 1) record-setting financial penalties, and 2) a portion of those penalties being set aside to fund programs to benefit the communities harmed by the crime. Shouldn't we carry that trend into FCPA enforcement?

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Thursday
Aug212014

Where's BofA's $17 billion going?

Bank of America is paying $16.65 billion to settle fraud claims by federal and state enforcement agencies and regulators that relate back to the financial crisis of 2008. It's "the largest civil settlement with a single entity in American history," the DOJ said Thursday.

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Thursday
Jul312014

BofA fined $1.27 billion for Countrywide mortgage fraud

Judge Jed Rakoff of the U.S. district court in New York on Wednesday ordered Bank of America to pay a $1.27 billion fine for fraud perpetrated by Countrywide Financial Corp., a mortgage company the bank acquired in 2008.

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