Historic attitudes favouring globalisation are fundamentally changing....
| 1yr
| 1yr
Historic attitudes favouring globalisation are fundamentally changing....
However, the bank has not detailed the size of its total legal and litigation reserve, as rival JP Morgan Chase did for the first time in its results disclosure last week. BofA chief executive Brian Moynihan, once the general counsel at the bank, said that the 'lion's share' of costs relating to disputed mortgage sales are behind the bank. However, another set of legal costs may be coming through, according to Bloomberg, as the bank 'was sued by the U.S. for allegedly hiding risk from investors in an $850 million securitization in 2008, according to a complaint filed in August'.
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