- The U.S.'s six largest banks have accumulated legal costs of $103B so far since the financial crisis, Bloomberg calculates, noting that the figure is greater than the amount they've paid in dividends in the past five years.
- Legal fees and litigation costs account for $56B and the rest is for payments to mortgage investors.
- JPMorgan's (JPM) legal bill is $21.3B while it has allocated $8.1B for mortgage buybacks. Bank of America's (BAC) legal expenses are $19.1B and its repurchase provisions $28.6B. The other banks are Citigroup (C), Wells Fargo (WFC), Goldman (GS) and Morgan Stanley (MS).
Legal costs for major U.S. banks top $100B
Aug 28 2013, 04:10 ET