Banks Spend $66 Billion Cleaning Up After ‘Mortgage Mess’

Banks Spend $66 Billion Cleaning Up After ‘Mortgage Mess’

The costs of faulty mortgages and foreclosure abuses have eclipsed predictions from bankers and analysts that lenders would suffer only modest damage from what Bank of America Chief Executive Officer Brian T. Moynihan has called “the mortgage mess.” Photo: Brendan Hoffman/Bloomberg