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Martha Coakley

BofA's Countrywide To Pay $17 Mln To Massachusetts

The former mortgage giant Countrywide will pay more than $17 million in a settlement with Massachusetts over mortgage-backed securities. Bank of America Corp. , which bought Countrywide in 2008, will pay $11.3 million to the state pension fund and $6 million to the state, according to an announcement from state Attorney General Martha Coakley. The state had accused Countrywide of misleading investors about the quality of the securities it sold in the run-up to the financial crisis. Coakley's office has reached similar - and bigger - settlements with Goldman Sachs Group Inc. , Morgan Stanley , Royal Bank of Scotland , Barclays and J.P. Morgan Chase & Co. [s:jpm]Copyright © 2014 MarketWatch, Inc....

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