Executives at the bank have indicated that legal costs will be in this region according to the Financial Times. If so, this item could weigh heavily with the bank which had a profit in its mortgage banking stream of $1.1 billion in Q2. But as Global Legal Post went to press the bank was in talks to settle a range of issues on mortgage securities with US regulators for a sum of about $4 billion, according to the FT. The bank looks likely to top the legal spend legal tables for 2013 in the US banking sector.
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