© 2021 WFAE
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
Available On Air Stations
Charlotte Area

BofA-Countrywide: A Done Deal

Bank of America's acquisition of the troubled mortgage lender Countrywide Financial, is now a done deal. Countrywide faces mounting legal troubles as state and federal regulators probe its lending practices. It has also set aside $1.5 billion to cover increasing loan defaults. From WFAE's Carolinas Business Bureau, Simone Orendain spoke with veteran banking analyst Gary Townsend about lingering questions related to the $2.5 billion stock deal and Bank of America's CEO Ken Lewis.