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Madigan Sues Countrywide Alleging Discrimination
CHICAGO (AP) -- Illinois Attorney General Lisa Madigan has filed a lawsuit against Countrywide, alleging discrimination against black and Latinos buying home mortgages.

The lawsuit filed Tuesday in Cook County Circuit Court claims the fallen mortgage industry giant steered black and Latino borrowers into risky subprime mortgages more often than whites.

It also claims blacks and Latinos paid more for mortgages than whites.

The complaint alleges the Bank of America Corp. subsidiary violated the Illinois Human Rights Act and the Illinois Fairness in Lending Act.

Madigan's office analyzed statistical data from more than 83,000 Countrywide mortgages in Illinois from 2005 to 2007.

In 2008, Bank of America acquired Countrywide.

A Countrywide spokeswoman didn't immediately have comment Tuesday.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
06 29 10 by Newsroom
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