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Countrywide faces FTC probe

August 12, 2008|From Times Wire Services

Countrywide Financial Corp., the home lender acquired by Bank of America Corp., faces a Federal Trade Commission investigation into its loan-servicing business.

The FTC asked for information to study whether Countrywide violated federal law in the business of collecting and managing mortgages, according to a regulatory filing by the Calabasas-based company.

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