Update: Countrywide’s Mozilo faces trial in Florida

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A federal judge has ruled that Angelo Mozilo, former chairman and chief executive of Countrywide Financial Corp., should be tried in Florida in a civil case focused on deceptive trade practices.

Florida Attorney General Bill McCollum, who filed the civil complaint in June, said in a release that he plans to aggressively pursue the case.

The lawsuit, filed in Broward County Circuit Court, addressed Countrywide’s alleged practice of placing consumers in loans they could not afford or with rates that were false or misleading. Countrywide and Mozilo sought to remove the action to federal court in Florida, and the case subsequently was consolidated in the Southern District of California.




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