Assuming prosecutors can clear legal challenges against applying retroactively the law's longer statute of limitations -- from five years to six -- the next step will be deciding whether to reopen the investigative files of top banking executives.
The Justice Department’s $13 billion mortgage securities settlement with JPMorgan Chase & Co. is a record and also a rarity -- Attorney General Eric Holder’s first big win against a bank at the heart of 2008’s financial crisis.
Countrywide Financial Corp. co- founder Angelo Mozilo said under oath last year that he had “no regrets” about how he ran the mortgage firm and that he only agreed to a record $67.5 million regulatory settlement in 2010 to protect his children.
The U.S. Justice Department has ended a criminal investigation of former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo and won’t bring charges, a person familiar with the investigation said.
Former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo warned as early as 2004 of a possible housing-market collapse while the Federal Reserve overlooked the threat a year later, according to documents released by the Financial Crisis Inquiry Commission.
Former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo and ex-Chief Operating Officer David Sambol agreed to $6.5 million settlement to resolve a predatory lending lawsuit filed by California.
Former Countrywide Financial Corp. directors, including ex-Chief Executive Officer Angelo Mozilo, should be forced to face claims that they misled investors about the quality of the mortgage-lender’s loans, a lawyer for shareholders told an appeals court.
U.S. prosecutors have ended a criminal investigation into former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo after finding no evidence of any crime, the Los Angeles Times reported.