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August 3, 2010

Countrywide to Pay $600 Million Settlement
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Countrywide Financial has agreed to pay $600 million to settle
shareholder lawsuits in the largest payout so far from the subprime
mortgage crisis. The settlement would end several class action lawsuits
that claimed Countrywide concealed mounting risks as it loosened its
standards for loans. As part of the settlement, Countrywide didn’t have
to admit any wrongdoing.



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