Bank of America spent $881 million on litigation in Q1 2013, greatly exceeding analyst estimates according to Businessweek.
According to the report Bank of America is spending the majority of its legal fees on the fallout from its mortgage platform Countrywide.
Goldman Sachs anticipated a litigation bill of $400 million, while Duetsche Bank had the total pegged at $500 million. Overall, Bank of America has shelled out $1.8 billion in litigation in the past two quarters combined.
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