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Countrywide’s Sambol will not run lending, B of A says

NEW YORK (MarketWatch) - The controversial president of failed mortgage lender Countrywide Financial Corp. [s:cfc] will be retiring after the company is acquired by Bank of America Corp. later this year, Bank of America said Wednesday in a company statement. David Sambol had been tapped to helm the combined mortgage operations of both companies, but regulatory and shareholder outrage over Countrywide’s previous lending practices put pressure on that appointment. Instead, Barbara Desoer, Bank of America’s chief technology and operations officer, will lead consumer real estate operations and report directly to Chief Executive Officer Kenneth Lewis, the bank said. The $4 billion all-stock deal is expected to close in the third quarter.
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Original post by Forextvblog

This entry was posted on Wednesday, May 28th, 2008 at 2:41 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Countrywide’s Sambol will not run lending, B of A says”

  1. dave sambol | Lasts information Says:
    May 28th, 2008 at 3:46 pm

    […] Countrywide’s Sambol will not run lending, B of A says34 minutes ago [s:cfc] will be retiring after the company is acquired by Bank of America Corp. later this year, Bank of America said Wednesday in a company statement. David Sambol had been tapped to helm the combined mortgage operations of both …Dollar Drops, Exchange rates, Forex and… - http://www.dollardrops.com/dollar […]

  2. dave sambol | Hottags Says:
    May 28th, 2008 at 3:46 pm

    […] Countrywide’s Sambol will not run lending, B of A says34 minutes ago [s:cfc] will be retiring after the company is acquired by Bank of America Corp. later this year, Bank of America said Wednesday in a company statement. David Sambol had been tapped to helm the combined mortgage operations of both …Dollar Drops, Exchange rates, Forex and… - http://www.dollardrops.com/dollar […]

  3. david sambol | Lasts information Says:
    May 28th, 2008 at 4:30 pm

    […] Countrywide’s Sambol will not run lending, B of A says1 hour ago [s:cfc] will be retiring after the company is acquired by Bank of America Corp. later this year, Bank of America said Wednesday in a company statement. David Sambol had been tapped to helm the combined mortgage operations of both …Dollar Drops, Exchange rates, Forex and… - http://www.dollardrops.com/dollar […]

  4. david sambol | Wonderful Article Says:
    May 28th, 2008 at 9:45 pm

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