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Lawmaker seeks FTC scrutiny of Countrywide; At issue: Lender's behavior toward bankrupt borrowers
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A top Senate Democrat on Wednesday asked the Federal Trade Commission to join other government and court agencies investigating Countrywide Financial, the nation's largest home mortgage lender. Sen. Charles Schumer, D-N.Y., chairman of the Senate Subcommittee on Administrative Oversight and the Courts, made the request based on what he called "an emerging pattern of apparent misconduct" in Countrywide's treatment of borrowers who seek bankruptcy-court protection.
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