WA Gov: Countrywide Used Discriminatory Lending Practices

SEATTLE (AP) — Gov. Chris Gregoire’s office will release results of an investigation it says points to discriminatory lending practices by Countrywide Home Loans, the nation’s biggest and much embattled mortgage lender.

Gregoire plans a news conference on the investigation Wednesday morning. Earlier Wednesday, the states of California and Illinois filed lawsuits against Countrywide. The Illinois attorney general’s office claims Countrywide misled borrowers.

Gregoire’s office alleges that Countrywide targeted Washington’s minority communities.

Shareholders from California-based Countrywide on Wednesday approved a takeover by Bank of America.