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Hearings requested for Countrywide sale

Associated Press
Published February 2, 2008


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LOS ANGELES - Consumer groups in four states asked congressional banking and finance committees on Friday to conduct hearings on Bank of America Corp.'s proposed $4.1-billion buyout of struggling mortgage lender Countrywide Financial Corp.

Lawmakers were asked to investigate the impact of the buyout on Countrywide borrowers.

The consumer groups were from California, New York, New Jersey and North Carolina.

[Last modified February 1, 2008, 23:19:15]


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