Investigation of a potential data breach class action against Countrywide Financial Corp. The FBI recently arrested a Countrywide employee for a scheme to steal and sell sensitive personal information, including Social Security numbers, of Countrywide's customers. The breach occurred over a two-year period though July 2008. The insider was a senior financial analyst at Full Spectrum Lending, Countrywide's subprime lending division. Up to 2 million people may have been affected by the breach. Much of the data was being sold to third parties in the mortgage industry to be used for making new sales pitches. Affected customers may also be at risk of identity theft. Countrywide has begun to offer credit monitoring services to some of the affected customers.
Name (Stock Symbol)
Full Spectrum Lending
Full Spectrum Lending was the Countrywide subsidiary that focused on originating sub prime loans.
Countrywide Financial Corporation
Countrywide Financial Corporation originates, services and resells home loans. It is owned by Bank of America.
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