WFC, BAC and Other Banks Continue to Fight LawsuitsVW Staff
Banks continue to face the ghosts of mortgage related issues, as judged from SEC filings that require a bank to disclose the potential litigation losses that may exceed its legal reserves.
Wells Fargo & Company (NYSE:WFC)'s latest quarterly filing reveals that "reasonably possible potential litigation losses" that were in excess of the legal reserves were $1.2 billion, higher by 30 percent over the previous quarter . . .
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