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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.