Wells Fargo says upper end of range of possible litigation losses was $1.7 billion at end-September

Wells Fargo & Co. said Thursday the upper end of the range of "reasonably possible potential litigation losses" stood at about $1.7 billion as of Sept. 30. In a filing with the Securities and Exchange Commission, the bank said it is unable to determine whether the current investigations of its sales practices and mortgage-related regulatory probes will have a material adverse affect on its finances. "It is possible that the ultimate resolution of a matter, if unfavorable, may be material to Wells Fargo's results of operations for any particular period," the bank cautioned. There is also......(read more)

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