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September 12, 2008 |
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On June 30, 2008, Florida Attorney General Bill McCollum filed suit against Countrywide Financial, accusing it of deceptive and unfair trade practices. The suit alleges that the company is a major reason for the U.S mortgage crisis, making subprime loans to people who could not repay them. The lawsuit names Countrywide Chief Executive Angelo Mozilo as a defendant, in the state court in Broward County, Florida. The suit seeks civil penalties and damages. Read the Press Release
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