Bank of America (BofA) is expected to face legal losses of up to $1.5 billion in 2011, The Wall Street Journal reports. The bank’s legal liabilities, in addition to its accrued liability, range from $145 million to $1.5 billion. The bank has also received “a number” of subpoenas from federal regulators on its mortgage-backed-securities underwriting. BofA is facing legal battles tied to mortgage securities, including from investors that bought deals the bank underwrote.

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