Countrywide CEO To Pay $67.5M In SEC Settlement

Angelo Mozilo, the former CEO of Countrywide Financial, will pay $67.5 million in penalties to settle a civil fraud suit filed by the Securities and Exchange Commission. Mozilo built Countrywide into the nation's largest mortgage lender, but it was sold to Bank of America after it ran into trouble in the subprime lending debacle. The settlement bars Mozilo from serving as an officer or director of a public company.

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