Sarah Mirando  |  April 7, 2010

Category: Legal News

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Countrywide

 

Countrywide Sued for “Aiding and Abetting” Customer Identity Theft

By Sarah Pierce

A class action lawsuit has been filed against Countrywide for some pretty serious allegations.

 

The lawsuit, filed against Countrywide Financial, Countrywide Home Loans and Back of America (which bought Countrywide), claims Countrywide employees stole and sold tens of thousands — possibly millions — of customers’ personal financial information. The plaintiffs are seeking more than $20 million for invasion of privacy, aiding and abetting, and punitive damages. They also want to know if the theft was an intentional plan or scheme.

 

The class action lawsuit claims Countrywide learned about the security breach but waited months before informing their customers, intentionally covering up the theft so they could buy “time and money to extricate themselves from the financial stress” they created. This left millions of customers exposed to a high risk of identity theft and the plaintiffs with “shattered” credit histories, leaving them unable to obtain loans, lines of credit or real estate financing.

 

The class action suit claims Countrywide did little to resolve the situation and only informed certain customers by letter, offering to refer them to counseling “when it was Countrywide that needed to repair damages done to the credit of its customers” and review and repair its internal procedures.

 

The entire complaint can be read here.

 

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Updated April 7th, 2010

 

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2 thoughts onCountrywide Sued for “Aiding and Abetting” Customer Identity Theft

  1. Sandra Douglas says:

    Me neither i had been put my nane on the lisr.

  2. Anonymous says:

    i have yet to hear back from these people.

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