The 5 Bank Stocks Facing the Biggest Legal Risks
By
Dan Freed, TheStreet
As U.S. banks struggle to put the financial crisis behind them, legal overhang remains a major issue.
Whether its big institutional investors who say banks must repurchase bonds stuffed with fraudulent home loans, homeowners or attorneys general suing over improper foreclosures, or merchants suing over anticompetitive credit card fees, banks have no shortage of legal hassles. JPMorgan Chase (JPM)alone is fighting 10,000 lawsuits.
Here, courtesy of Nomura, are the five banks facing the biggest litigation costs beyond what they have already set aside as a percentage of consensus earnings for 2012-2013.
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