JPMorgan Chase agreed in early February to pay $614 million to settle claims that it defrauded the FHA and the Department of Veterans Affairs by making sub-standard mortgage loans.
In February 2012, Bank of America agreed to $1 billion in payments to the federal government to settle separate claims that its Countrywide home loan subsidiary made FHA-insured mortgages to unqualified borrowers. That settlement covered loans made before April 30, 2009.
Bank of America raised its estimate of overall litigation costs to as much as $6.1 billion above what it has already set aside, up from an estimate of $5.1 billion at the end of the third quarter, according to its SEC filing.
Getting a capital boost
The bank also disclosed in the filing an agreement with Warren Buffett's Berkshire Hathaway that could give it an additional $2.9 billion in capital.
(Read more: Court approves BofA's $8.5B mortgage settlement)
Berkshire acquired a special class of preferred stock in Bank of America in 2011 as part of a larger $5 billion investment. Under international regulatory capital rules that U.S. regulators finalized in 2013, that preferred stock would not have counted toward the bank's capital ratios.
But in exchange for agreeing not to redeem the preferred stock for five years, Berkshire agreed to change the terms of the investment so that it counts for Tier 1 capital purposes. The new terms include a fixed annual dividend of 6 percent and the removal of a provision that would have let Berkshire receive additional payments if the bank missed a dividend.
The deal is subject to shareholder approval. An amendment will be put to a vote at the bank's annual meeting in May.