Four Banks May Face $42B Loss
August 19, 2010 at 09:51 AM EDT
The four largest U.S. banks may incur losses of up to $42 billion if housing finance giants Fannie Mae (FNMA) and Freddie Mac (FMCC) force them to repurchase faulty mortgages, Fitch Ratings stated on Wednesday. The four banks are JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Bank of America Corp. (BAC) and Wells Fargo & [...]
