bank of america sees higher litigation costs
Saturday 26 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Bank of America sees higher litigation costs

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Bank of America sees higher litigation costs

New York - AFP

Bank of America Tuesday raised its estimate of potential payouts to settle litigation and disclosed it has been queried by regulators over its foreign exchange trading practices. In its annual securities filing for 2013 the US banking giant raised its estimate of outstanding costs it could pay for litigation and regulatory problems to $6.1 billion; the estimate a year earlier was $4.2 billion. Bank of America has faced major government and private lawsuits over its sale of mortgage-backed securities ahead of the financial crisis.  Bank of America said it adjusts the estimate once it concludes a payment is "probable". A US judge in New York earlier this month approved an $8.5 billion settlement between the bank and private investors on mortgage backed securities. The bank also disclosed that it has been questioned by regulators in North America, Europe and Asia "regarding conduct and practices in certain (foreign exchange) markets over multiple years." Bank of America said it is cooperating with the inquiries. Several other banks have also been queried in the wide-ranging foreign exchange probe. Other banks, including Deutsche Bank and Citigroup, have also either suspended or fired currency traders in light of the probe.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bank of america sees higher litigation costs bank of america sees higher litigation costs

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bank of america sees higher litigation costs bank of america sees higher litigation costs

 



GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 10:46 2012 Thursday ,16 February

BMW i8 The Best of the 2012 Detroit Auto Show

GMT 15:48 2018 Sunday ,21 January

Iraqi, Kurdish PMs try to resolve bitter dispute

GMT 06:15 2018 Tuesday ,09 January

Hollywood stars declare war on sexual misconduct

GMT 00:09 2017 Sunday ,29 January

Egypt working for Libya political solution, says FM

GMT 06:03 2017 Wednesday ,01 March

Saudi Aramco, Malaysian Petronas sign historic deal

GMT 13:55 2012 Sunday ,15 January

Youngest Microsoft professional dies

GMT 10:54 2016 Monday ,14 November

US elections have heightened uncertainty

GMT 10:49 2017 Wednesday ,20 September

Nabila describes mother’s death as the worst in life

GMT 00:24 2017 Saturday ,23 September

Gulf Air launches daily flights to Istanbul

GMT 14:50 2011 Friday ,24 June

Nelly Maqdasi sings for Arabs
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice