Apr 27th, 2009 - Reuters
NEW YORK, April 27 (Reuters) - Bank of America Corp (BAC.N) onMonday discarded the Countrywide brand in its mortgage operations,a name now sullied by risky home loans, an FBI investigation, andthe high pay of its former chief executive.
Countrywide was founded in 1969, and co-founder Angelo Mozilobuilt it into the largest U.S. mortgage lender. Bank of Americabought the company last July for about $2.5 billion after risingdefaults and an inability to tap capital markets drove Countrywidenear collapse.
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