Facing Subpoenas, Regions Expects $300M In Legal Costs

Law360, New York (August 4, 2011, 7:09 PM EDT) -- Regions Financial Corp. revealed Thursday its recent battles with investors and federal agencies could cost the company up to an additional $300 million, adding that it had been subjected to new government subpoenas related to its reporting of loan losses.

In a quarterly filing with the U.S. Securities and Exchange Commission, Birmingham, Ala.-based Regions said that it was reasonable to expect that it would incur losses of up to $300 million more than it had previously set aside to cover litigation costs. The bank did not...
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