Login
ISCOVER
Embattled US home lender Countrywide Financial Corp has been purchased by Bank of America (BoA) for an estimated 37 per cent less than agreed to in January.
BoA, the States’ second largest bank, will pay an estimated $US2.5 billion (A$2.6 billion) for the lender – making BoA the largest home lender in the US.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
BoA has announced that it will axe 7,500 jobs immediately as the two organisations combine, which will bring the total staff number to 259,000.
Published: 02-07-08
