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Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC

A federal judge ordered Bank of America to pay over $540 million to resolve allegations from the Federal Deposit Insurance Corporation regarding underpaid deposit insurance assessments.
The Federal Deposit Insurance Corporation sued Bank of America in 2017, claiming it did not pay over $500 million in assessments.
U.S. District Judge Loren L. AliKhan stated the payment would cover Bank of America's underpayments from 2013 to 2014, plus interest.
Judge AliKhan ruled that the Federal Deposit Insurance Corporation was too late to sue for earlier claims in the case.

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Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC

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