Finance & Stock Market News

BRIEF-Countrywide settles FTC charges for $108 million

Mon, 7th Jun 2010 16:25

WASHINGTON, June 7 (Reuters) - The Federal Trade Commission said on Monday:

* that two Co

untrywide's mortgage servicing companies will pay $108 million to settle charges that it misled, overcharged consumers

* Countrywide's loan servicers charged inflated fees that could add up to thousands of dollars per consumer

* the $108 million is one of the largest judgments in an FTC case

* Countrywide has been acquired by Bank of America

(Daly/Bartz; Company news desk in Washington; +1 202 898 8400, washington.newsroom@thomsonreuters.com)

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