Bank of America (BAC) said government probes into foreclosure practices could lead to...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) said government probes into foreclosure practices could lead to 'significant legal costs,' while Wells Fargo (WFC) said penalties are likely. Still, major banks are trying to strike a reassuring note, and Wells says it doesn't expect its litigation costs to have a 'material adverse' impact.