I was skimming through the Stats screen in Kingdoms of Amalur: Reckoning when I came across this puzzling bit of information:

Personally, I wasn't even aware of the fact that failing a quest was even possible. Now, being a completionist, this concept has me worried. I know in this article, they mentioned being unable to lock yourself out of content. However, I'm worried that failing a quest would conflict with that concept.
What are the consequences for failing quests?
