Shares of Bank of America (NYSE:BAC) have been on a huge run during the past couple of years. The underlying business is improving as well – 2013 profit dwarfed bottom-line numbers from the previous few years. Despite all of this successful, Bank of America still may have to boost its legal reserves to cover lawsuits.

In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson look at the latest news from Bank of America and its legal situation.

David Hanson owns shares of JPMorgan Chase. Matt Koppenheffer owns shares of Bank of America and JPMorgan Chase. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.