S&P estimates banks may spend as much as $104B more on mortgage suits, FT says

theflyonthewall.com

Standard & Poor’s estimates the largest U.S. banks may need to pay between $56.5B and $104B more to resolve legacy mortgage issues, noting that payments at the upper end of the range would wipe out about two-thirds of the roughly $155B litigation buffer estimated to be held by the banks, reported Financial Times.

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