The combined costs of problematic mortgages and foreclosure abuse at five leading banks exceed...

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

The combined costs of problematic mortgages and foreclosure abuse at five leading banks exceed $72B, a Bloomberg analysis shows. BofA (BAC) has the biggest bill, $41.8B, with the other banks being Wells Fargo (WFC), Citigroup (C), JPMorgan (JPM) and Ally. "It’s a colossal failure of basic banking," says analyst David Knutson.