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Thursday, February 27, 2014

BofA ups estimate of possible legal liabilities to $6.1B.

Bank of America (BAC) has added $1B to its estimate of its potential litigation liabilities, bringing the total to $6.1B vs a year-ago estimate of $3.1B. BofA also said that the U.S. Attorney's Office is investigating the bank's compliance with the Federal Housing Administration's direct endorsement program. Meanwhile, authorities in North America, Europe and Asia are probing BofA's conduct and practices in forex markets.

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