US EditionBank 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.
71 Articles
71 Articles
A federal judge ordered Bank of America to pay $540 million to the IDFC for sub-reported insurance premiums between 2013 and 2014
News & Record
Winston-Salem JournalJudge orders bank to pay $540M to settle lawsuit
NEW YORK — A federal judge ordered Bank of America to pay more than $540 million to resolve long-running litigation from a U.S. regulator that alleged the company underpaid mandatory assessments for deposit insurance.
Channel News Asia
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Associated Press News
Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC
A federal judge has ordered Bank of America to pay more than $540 million to resolve long-running litigation from a U.S. regulator that alleged the company underpaid mandatory assessments for deposit insurance.
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