Only “Number Jesters” report 2Q economic growth at 4% pace

4 factors weighing down housing in the second half of 2014

Will housing collapse?

Altos: Critics wrong about housing, it’s going to soar

2015 will see notable price appreciation
W S
Lending / The Ticker

Banks legal expenses swell to $100 billion

pinched-Money

Banks have hovered in the media spotlight over the financial crisis for years, and now they have the bills to show it. The six largest banks have accumulated legal costs as high as $103 billion.

Per Seeking Alpha:

Legal fees and litigation costs account for $56B and the rest is for payments to mortgage investors.

JPMorgan Chase's (JPM) legal bill is $21.3 billion while it has allocated $8.1 billion for mortgage buybacks. Bank of America's (BAC) legal expenses are $19.1 billion and its repurchase provisions $28.6 billion. The other banks are Citigroup (C), Wells Fargo (WFC), Goldman (GS) and Morgan Stanley (MS).

Source: Seeking Alpha
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus