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Bank of America Hit with $540M FDIC Judgment

4/15/2025

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Summary

Story summary

Bank of America is ordered to pay $540.3 million to the FDIC for underpaid deposit insurance.
The FDIC's lawsuit, initiated in 2017, claimed the bank misreported risk exposure, seeking $1.12 billion.
The ruling addresses unpaid assessments from Q2 2013 to Q4 2014, without penalties on profits.
The bank denies any intent to evade payments, attributing issues to confusion over a 2011 FDIC rule.

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Story summary

Bank of America is ordered to pay $540.3 million to the FDIC for underpaid deposit insurance.
The FDIC's lawsuit, initiated in 2017, claimed the bank misreported risk exposure, seeking $1.12 billion.
The ruling addresses unpaid assessments from Q2 2013 to Q4 2014, without penalties on profits.
The bank denies any intent to evade payments, attributing issues to confusion over a 2011 FDIC rule.