<P> On January 11 , 2008 , Bank of America announced that it planned to purchase Countrywide Financial for $4.1 billion in stock . On June 5 , 2008 , Bank of America Corporation announced it had received approval from the Board of Governors of the Federal Reserve System to purchase Countrywide Financial Corporation . Then , on June 25 , 2008 , Countrywide announced it had received the approval of 69 % of its shareholders to the planned merger with Bank of America . On July 1 , 2008 , Bank of America Corporation completed its purchase of Countrywide Financial Corporation . In 1997 , Countrywide had spun off Countrywide Mortgage Investment as an independent company called IndyMac Bank . Federal regulators seized IndyMac on July 11 , 2008 , after a week - long bank run . </P>
<P> On January 11 , 2008 , Bank of America announced that it planned to purchase Countrywide Financial for $4.1 billion in stock . On June 5 , 2008 , Bank of America Corporation announced it had received approval from the Board of Governors of the Federal Reserve System to purchase Countrywide Financial Corporation . Then , on June 25 , 2008 , Countrywide announced it had received the approval of 69 % of its shareholders to the planned merger with Bank of America . On July 1 , 2008 , Bank of America Corporation completed its purchase of Countrywide Financial Corporation . In 1997 , Countrywide had spun off Countrywide Mortgage Investment as an independent company called IndyMac Bank . Federal regulators seized IndyMac on July 11 , 2008 , after a week - long bank run . </P>
when was countrywide bought by bank of america
when was countrywide bought by bank of america
July 1 , 2008
July 1 , 2008