Bank of America faces a $540 million bill after a federal judge ordered the financial institution to pay up on Monday amid a federal lawsuit. The ruling comes after the Federal Deposit Insurance ...

A federal judge at a court in Washington, D.C., ruled late last month that Bank of America owed the FDIC $540.3 million in unpaid deposit insurance and interest, according to court documents made ...

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 ...

Bank of America, with heavy presence in Charlotte, must pay for underpaying deposit insurance after a judge ruled in FDIC’s favor for assessments from 2013-2014.

Like most banks, Chase and Bank of America are members of the Federal Deposit Insurance Corp. The FDIC is a government agency that insures deposit accounts, including checking and savings accounts.

Bank of America claimed its company's intent was not to avoid any payments to the Federal Deposit Insurance Corporation. Bank of America faces a $540 million bill after a federal judge ordered the ...