Legal and Regulatory Proceedings

6 Months Ended

Jun. 30, 2020

Legal Proceedings [Abstract]

Legal Matters and Contingencies [Text Block]

Legal and Regulatory Proceedings

The Company has various legal proceedings pending at June 30, 2020, arising in the normal course of business. While some matters pending against the Company specify damages claimed by plaintiffs, others do not seek a specified amount of damages or are at very early stages of the legal process. The Company records a loss accrual for all legal and regulatory matters for which it deems a loss is probable and can be reasonably estimated. Some matters, which are in the early stages, have not yet progressed to the point where a loss amount can be determined to be probable and estimable.

On July 31, 2020, the Company issued a press release announcing that it will redeem all outstanding shares of its 6.00% Series B Non-Cumulative Perpetual Preferred Stock, $1.00 par value per share (Series B Preferred Stock) and the corresponding depositary shares representing fractional interests in the Series B Preferred Stock (Series B Depositary Shares). See further discussion about the redemption in the “Capital Management” section in Item 2, Management’s Discussion and Analysis, of this report.