BofA Raises Estimate of Possible Legal, Regulatory Costs
This article is for subscribers only.
Bank of America Corp., the lender facing lawsuits and probes by state attorneys general tied to its mortgage business, increased its estimate for costs that may result from legal complaints and regulatory matters.
Losses may range from $150 million to $1.6 billion in excess of accrued liability, the Charlotte, North Carolina-based company said today in a regulatory filing that covered the first quarter of this year. The range cited after the fourth quarter of 2010 was $145 million to $1.5 billion.