Wells Fargo Adds $1 Billion to Possible Legal Cost
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Wells Fargo & Co. added $1 billion in the third quarter to what it says the bank may face in possible legal expenses.
Legal costs could potentially be $3.3 billion more than what the San Francisco-based bank has reserved, Wells Fargo said Friday in a regulatory filing. While that figure was unchanged from the previous three-month period, it constitutes a $1 billion increase because Wells Fargo moved a similar amount into legal reserves during the period.