Daily News: August 28, 2013

Bloomberg: U.S. Banks’ Legal Bills Exceed $100B

Bloomberg reported that the six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have incurred $103 billion in legal costs since the financial crisis, more than all dividends paid to shareholders in the past five years.

The article noted that approximately 40% of the legal and litigation outlays arose since January 2012, and banks are warning the amount may rise as regulators, prosecutors and investors press new claims.

To read the full Bloomberg article click here.