The Florida Supreme Court's decision in Page v. Deutsche Bank Trust Company Americas addresses a previous court's ruling related to standing to foreclose and attorney’s fees. Here's what the court had to say.
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Bank of America Legal Expenses Hurt Q1 Earnings
Bank of America’s first-quarter earnings were hit hard by legal expenses, resulting in a net loss of $276 million to start the year. The loss follows a profitable fourth quarter of 2013, which saw the bank taking in $3.4 billion. For the first quarter of 2013, BofA reported net income of $1.5 billion. The results for the first quarter include $6 billion in litigation expenses related to a major settlement the Federal Housing Finance Agency (FHFA) over legacy securities claims.
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