The Massachusetts court ruling will prove costly and cumbersome but not catastrophic for banks,...

|By:, SA News Editor

The Massachusetts court ruling will prove costly and cumbersome but not catastrophic for banks, Oppenheimer's Chris Kotowski writes - basically, as long as they clean up their paperwork, they can foreclose. The ruling will impact Bank of America (BAC +0.8%) more than JPMorgan Chase (JPM -0.2%), Wells Fargo (WFC -0.4%) and Citigroup (C -0.9%), Kotowski believes.