Bank of America Settles With DOJ Over Countrywide

Bank of America Settles With DOJ Over Countrywide Play

Dec. 22 (Bloomberg) -- Bank of America Corp. will pay a record $335 million to compensate Countrywide Financial Corp. borrowers who were charged more for home loans based on race and national origin. The penalty for Bank of America, which acquired Countrywide in 2008, dwarfs the $30 million total for all previous fair-lending settlements extracted by the U.S. Department of Justice. Megan Hughes reports on Bloomberg Television's "In the Loop." (Source: Bloomberg)

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