California Attorney General Jerry Brown sued Countrywide Financial Corp. and its top officers June 25, accusing the lending giant of pushing unwitting homebuyers into risky loans that resulted in thousands of defaults and foreclosures. Brown is seeking an injunction barring Countrywide employees from "making any untrue or misleading statements" during future sales, plus damages of $2,500 for each time a company agent had engaged in deception or other unfair business practices. The complaint also asks for unspecified damages for Countrywide borrowers.
Calif. AG Files Suit Against Countrywide
June 26, 2008