The High Cost Of The Mutual Fund Trading Scandal

A column in today’s National Post discusses the potentially enormous costs of the mutual fund trading scandal, including the expense of defending against “the inevitable wave of class-action lawsuits.” The author notes that Bank of America, which is one of the known targets of the New York Attorney General’s investigation, has announced the creation of a $100 million fund for direct costs and the increase of its litigation reserves by $75 million.