angelo mozillo

Allstate Sues Bank of America Over Toxic Securities

Allstate is suing Bank of America and its Countrywide Financial division over Countrywide's sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets would drop in value because of a high percentage of defaults.

Countrywide's Mozilo Settles With SEC

Countrywide Financial Corp. co-founder Angelo Mozilo, along with two others, has reached a settlement agreement with the Securities and Exchange Commission related to charges of insider trading and civil fraud.