In this video, John Maxfield details the last legal problem Bank of America (NYSE:BAC) faces regarding the sale of mortgage-backed securities to private investors. We know that $700 billion of such securities were sold to hundreds of private investors, and the lawsuits they have brought against Bank of America are without precedent. While these legal woes don't help the company, John explains why they won't break the bank, either.

John Maxfield owns shares of 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.