Apr 052010
 
 April 5, 2010  Breaches, Court

Tim Hull reports:

Countrywide Financial employees stole and sold “tens of thousands, or millions” of customers’ personal financial information, invading their privacy and exposing them to identity theft, a class action claims in Ventura County Court, Calif. The class seeks to know, among other things, whether Countryside merely aided and abetted the theft and illegal dissemination, or whether it was “an architect of the plan”.

Sixteen named plaintiffs sued Countrywide Financial, Countrywide Home Loans, and Bank of America, which bought Countrywide, the poster boy for the subprime mortgage crisis.

The class claims the defendants do not dispute that customers’ private financial information was “disseminated.” It wants to know “whether the dissemination was intended as a plan or scheme, or was intentional; [and] whether any of the defendants was simply aiding and abetting, rather than an architect of the plan to disseminate the personal information.”

Read more on Courthouse News.

Complaint: Jackson v. Bank of America (pdf)

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