Congressman Reopens Probe of Countrywide VIP Program

Rep. Darrell Issa, on Wednesday asked that a subpoena be issued to ""Bank of America"":https://www.bankofamerica.com/, requesting the company hand over any documents related to the ""Friends of Angelo"" program formerly offered by Countrywide Financial.

The ""VIP"" program was dubbed Friends of Angelo because it was headed by former Countrywide CEO Angelo Mozilo.

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In 2009 the Senate Ethics Committee conducted an investigation on Senators Christopher Dodd and Kent Conrad's possible involvement in the program, but the two were eventually cleared of the charges.

The year-long probe found ""no credible evidence"" that either senator knowingly took part in the program, which offered preferential loan terms and conditions to program participants but did not offer them to the public.

According to an extensive report by MSNBC, the Friends of Angelo program wrote hundreds of millions of dollars of loans from 2000 to 2004.

The organization reports that a former account executive told them people in the program received special treatment, perhaps to help influence the behavior of lawmakers and politicians.

Rep. Issa's probe will seek the identities of anyone involved in the program, and gives the company until March 7, 2011 to comply with the orders.