Two New Words Showed Up In Bank Of America's Earnings Report

Is this what’s spooking investors in Bank of America, today?

Check out this page on Representation and Warranties from today’s earnings presentation, and then the same one from last quarter.

The new one includes the line “This estimate does not include reasonably possible litigation losses” when talking about mortgage putback risk.

The quarter before doesn’t.

Here’s this quarter.


Now here’s last quarter:


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