Bank of America dragged down by legal costs

October, 15 2014

Bank of America is the latest bank to suffer dented profits as a result of legal costs following a settlement over mortgages.

Bank of America has faced large fines over mortgages Ken Wolters

The bank was forced ot pay a litigation charge of $5.6 billion on what is the costliest case Bank of America has ever faced. It has also said other litigation expenses are due as a result of the mortgage crisis.

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Bank of America dragged down by legal costs

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