Bank of America expects to complete its acquisition of mortgage lender Countrywide by July 1, reports Reuters. In January, Bank of America agreed to pay about $4bn for Countrywide, one of the biggest US mortgage lenders. Consumer advocates, lawyers and politicians have criticised the merger and Countrywide’s lending practices. The company’s financial and legal woes have led many investors to question whether BofA would go through with the takeover.

This entry was posted by Gwen Robinson on Friday, June 20th, 2008 at 5:18 and is filed under Capital markets, M&A. Tagged with BofA, countrywide. Edit this entry.