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Pointing Fingers and Liability

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The banking industry as a whole has not been particularly forthcoming about their litigation reserves and how much has been paid out of them. The Securities and Exchange Commission (SEC) has not issued a call for lenders to be more forthcoming about their litigation exposure as it has for other vulnerable areas of public companies, particularly banks. JPMorgan Chase disclosed that its litigation reserve in October 2013 was $23 billion, before a large settlement.

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