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Bank of America sees Q1 loss due to legal woes

The bank reported $6 billion in litigation costs, mostly stemming from the FHFA’s investigations into its participation in failed mortgage-backed securities that contributed to the 2008 financial crisis

Despite the banking industry boasting some companies with the deepest pockets in the U.S., it can still feel the heat from litigation costs. Bank of America has experienced just that as evident with its first-quarter earnings report revealed April 16. 

The company reported a net loss of $276 million during Q1. CNN notes that that is a 10-cent per share loss compared to Q1 of the year prior.

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Juliana Kenny

Juliana Kenny is a contributor to, covering a range of topics including patent litigation, conflict mineral laws, executive compensation, and antitrust regulation. Juliana earned B.A.s...

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