Countrywide to become a thrift-holding company
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From Bloomberg News
Countrywide Financial Corp., the biggest U.S. mortgage lender, received approval to become a savings-and-loan holding company, placing its operations under supervision of a single federal regulator.
The move will consolidate the Calabasas-based lender’s federal supervision under the umbrella of the thrift regulator. The lender’s Alexandria, Va.-based Countrywide Bank subsidiary will convert to a federal savings bank, the Office of Thrift Supervision said in a statement released Monday.
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