Countrywide Bank Buy Gets Conditional OK

Countrywide Credit Industries Inc., Calabasas, Calif., and its majority-owned affiliate Effinity Financial Corp. have announced the receipt of conditional federal approval for the acquisition of Washington-based Treasury Bank. The conditional approval came from the Office of the Comptroller of the Currency. "This decision strengthens Countrywide's overall strategy to further diversify our consumer offerings so that our nearly three million mortgage customers and 500,000 insurance customers can simplify their finances with a single trusted provider," said Angelo R. Mozilo, Countrywide's chairman, president, and chief executive officer. "Our long-term approach has been to build upon our mortgage customer base by expanding into a wider range of financial products and services, including insurance and investments." Countrywide's website address is http://www.countrywide.com.