In the following video, Motley Fool financials analysts Matt Koppenheffer and David Hanson discuss the next major lawsuit to show up at Bank of America's (BAC +0.95%) doorstep. Freddie Mac is suing 15 major international banks over their roles in the LIBOR manipulation scandal, which cost Fannie Mae and Freddie Mac a combined $3 billion in losses. Matt explains to investors just how big of an impact on Bank of America this new lawsuit could have.
Is This the Next Legal Nightmare for Bank of America?
By Matt Koppenheffer and David Hanson – Mar 20, 2013 at 6:01PM
NYSE: BAC
Bank of America
Market Cap
$378B
Today's Change
(0.95%) $0.48
Current Price
$51.59
Price as of October 23, 2025 at 12:26 PM ET
The LIBOR scandal catches up to Bank of America.
About the Author
Matt is the head of the Coverage Team for The Motely Fool's premium products. Previously, he's been . Matt is a heavy user of AI tools and is working on harnessing them to help Fool members. Previously, Matt was GM of Motley Fool Ascent, led The Motley Fool Deutschland, has been an investor on various Fool services, and co-hosted the podcast "Where the Money Is". He also co-authored the book The Astonishing Collapse of MF Global. Matt started his career in San Francisco as a technology-focused investment banker and also worked at a $15 billion private equity company. When he's thinking about how to make Fools smarter, happier, and richer, you can usually find Matt running trails or making a mess in the kitchen. He's a graduate of the University of Pennsylvania, but is a lifelong fan of Penn State football.