Countrywide Suit Over Modifications Remanded To State Court; Has Implications for Investors
September 11, 2009
Several aspects of a court’s decision to remand a class-action lawsuit against Countrywide Financial could have interesting repercussions for investors. The decision, passed down in mid-August, denied Countrywide’s request to have the case moved to federal court after the judge ruled that neither the Truth in Lending Act nor the Class Action Fairness Act of 2005 provide a...