A federal judge has approved an investigation into the lending practices of Countrywide (CFC). The mortgage company may have, among other things, charged borrowers large, unjustified fees. That was after they were given loans which the firm might have known they could not repay.
If all of this keeps heading down the path of discovering more and more bad behavior at Countrywide, the liabilities for the firm may pile up.
Bank of America (BAC) might still walk on its deal to buy CFC. How nice would that be?
Douglas A. McIntyre
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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