Bank of America said probe foreclosure may add fees - Reuters

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Charlotte, North Carolina | Fri 25 February 2011 06.05 IST Clock

Charlotte, North Carolina (Reuters) - Bank of America Corp. (BAC.N) said that the scope for wider probe into the closure of the banking market in 2011 could cause "significant" legal fees and court costs, according Bank Annual Report of the United States has filed Friday with securities regulators.

The largest U.S. bank by assets said he could not foresee the results of various investigations now performed by federal and state, but said the probe could yield results in fines or different and foreclosure sanctions.

Bank of America put temporarily seized nationwide last fall, after problems with the documents are used to protect homes regained possession.

Also found that entry costs are increased by BofA in 2011 after rising in the fourth quarter of 2010 due in part to the creation of the Bank expects foreclosure process.

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