Countrywide agrees to $8.68 billion settlement

SACRAMENTO, Calif. (Legal Newsline)–In the largest predatory lending settlement in U.S. history, Countrywide Financial Corp. has agreed to modify home loans as part of a settlement with 11 states. Countrywide was sued by a handful of state attorneys general, who alleged that the lender engaged in predatory lending practices, including misrepresenting loan terms and borrowers’ ability to afford loans.

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