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Posts Tagged ‘Bank Of America’

Countrywide additional $600m class action..

Following from the recent $20m class action suit against Countrywide Financial, they, and their owners Bank of America just got slammed with an additional $600m class action suit regarding improper practices.

Luckily, not related to any data breaches though.

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Countrywide Financials Data Loss leads to $20m class action suite…

April 14, 2010 17 comments

Following on from the Countrywide Financial data breach back in 2008, they now find themselves saddled with a class action lawsuit for $20,000,000.

Countrywide Financials problems all started when employee Rene Rebollo confessed to downloading 20,000 data files per week and selling them to Wahid Siddiqi for as much as $70,000 (a total of 2.2 million people’s information was compromised), this leading to Bank Of America (their new owners) paying $350,000 to Connecticut to settle claims.

The terms of the class action can be found on http:\\www.cwdataclaims.com, but they include up to $50,000 reimbursement per incident of identity theft from a fund of $5,000,000, free credit monitoring, $90 for opening a new account, $20 per month, up to $200 for credit monitoring, $10 per hour for telephone calls etc, and many other miscellaneous things.