Tuesday, January 25, 2011

Bank of America and Wells Fargo Most Sued Banks in 2010

Bank of America and Wells Fargo Most Sued Banks in 2010: "The IRA report found that last year Bank of America was sued in federal court 3,285 times and Wells Fargo was sued 3,092 times, noting that these cases can garner more than $1 million in settlement costs.
According to the report, Citigroup, JPMorgan, Goldman Sachs, and Morgan Stanley have many fewer lawsuits.
Only US Bancorp has a large portion of mortgage exposure but manages to avoid a proportionally large amount of lawsuits, last year experiencing only 59 federal litigations."

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