Judge orders Bank of America to pay $540 million in FDIC lawsuit

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Judge orders Bank of America to pay $540 million in FDIC lawsuit

, Reuters - 6:01 PM ET 4/14/2025 default

April 14 (Reuters) - A federal judge ordered Bank of America ( BAC ) to pay $540.3 million in a long-running lawsuit by the Federal Deposit Insurance Corp, which accused the bank of underpaying assessments to a federal deposit insurance fund.

In a decision made public on Monday, U.S. District Judge Loren AliKhan said the second-largest U.S. bank owes money representing underpaid assessments from the second quarter of 2013 through the end of 2014, plus interest.

(Reporting by Jonathan Stempel in New York; Editing by Leslie Adler)

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