Banks seem to be dividing into two camps when it comes to legal costs the haves (as in having huge potential legal costs) and the have-nots.
The have-nots in this case are the lucky ones, as they may be poised to put an extended period of huge legal settlements behind them. Comerica, Fifth Third Bancorp, M&T Bank and SunTrust Banks are all in this category, because in the second quarter they reduced the top end of the range of their exposure to litigation costs and regulatory matters.
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