BANK OF AMERICA BRACING FOR $800,000,000 LOSS AS INVESTIGATORS PROBE BOFA, JPMORGAN CHASE AND WELLS FARGO’S ALLEGED REFUSAL TO REIMBURSE CUSTOMERS (The Daily Hodl)
The second-largest US bank by total assets says it’s preparing for significant losses due to ongoing regulatory issues.
In a new filing with the U.S. Securities and Exchange Commission (SEC), Bank of America says it faces a “reasonably possible and estimable” loss of up to $800 million due to investigations from the Consumer Financial Protection Bureau (CFPB) and other federal regulators.
https://x.com/Fxhedgers/status/1856692781705494865
https://dailyhodl.com/2024/11/08/bank-of-america-bracing-for-800000000-loss-as-federal-investigators-probe-bofa-jpmorgan-chase-and-wells-fargos-alleged-refusal-to-reimburse-customers/amp/