FEDERAL DEPOSIT INSURANCE CORPORATION v. BANK OF AMERICA, N.A.
Case Number:
1:17-cv-00036
Court:
Nature of Suit:
Judge:
Firms
- Arnold & Porter
- Cooley LLP
- Ellis George
- Ellis George LLP
- Gibson Dunn
- McKool Smith
- Perkins Coie
- Quinn Emanuel
- Sullivan & Cromwell
Companies
- Bank of America Corp.
- BMO Harris Bank NA
- Charles Schwab Bank
- Citigroup Inc.
- City National Bank
- Cullen Frost Bankers Inc.
- Deutsche Bank AG
- Discover Bank
- First-Citizens Bank & Trust Company
- JPMorgan Chase & Co.
- Morgan Stanley
- New York Community Bancorp Inc.
- Northern Trust Corp.
- Popular Inc.
- The Bank of New York Mellon Corp.
- The Charles Schwab Corp.
- The Goldman Sachs Group Inc.
- UBS Group AG
- United Services Automobile Association
- Webster Financial Corp.
- Wells Fargo & Co.
Government Agencies
Sectors & Industries:
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April 14, 2025
BofA Ordered To Pay FDIC $540M For Underpaid Premiums
A Washington, D.C., federal court has ruled that Bank of America must pay the Federal Deposit Insurance Corp. more than $540 million plus interest for underpaying its deposit insurance premiums, ending an eight-year-long case whose resolution was delayed in light of the U.S. Supreme Court's Loper Bright decision overturning federal agency rulemaking deference.
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July 02, 2024
Chevron Loss Is BofA's Gain In $1.1B FDIC Premiums Suit
Bank of America and the Federal Deposit Insurance Corp. must hit reset on summary judgment briefing in litigation over the bank's alleged underpayment of its deposit insurance premiums following the U.S. Supreme Court's decision overturning the long-standing precedent of deference to federal agency interpretation of law in rulemaking.
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March 08, 2024
DC Judge Strikes 2 BofA Experts In $1.1B FDIC Premiums Suit
Bank of America can't use a certified public accountant and an economics scholar it had enlisted to fend off a Federal Deposit Insurance Corp. suit accusing the financial institution of failing to pay $1.1 billion in premiums, a federal magistrate judge has determined, finding both experts offered inadmissible opinions.
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April 20, 2023
BofA May Face Trial In FDIC's $1.1B Unpaid Premium Suit
A D.C. federal magistrate has preliminarily ruled Bank of America NA should be held liable for allegedly underpaying its deposit insurance premiums a decade ago, recommending that the bank face trial to determine whether it owes the Federal Deposit Insurance Corp. more than $500 million or $1.1 billion.
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May 06, 2021
FDIC Says BofA Disgorgement Not Blocked By FTC Ruling
The Federal Deposit Insurance Corp. told a D.C. federal judge on Thursday that a recent decision by the U.S. Supreme Court is no obstacle to the agency pursuing disgorgement from Bank of America in a lawsuit alleging the bank owes more than $1.1 billion in unpaid deposit insurance assessments.
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May 24, 2019
FDIC Switched Rule In $1.1B Deposit Shortfall Suit, BofA Says
Bank of America聽on Friday argued聽that the Federal Deposit Insurance Corp. might be trying to hide documents that show the regulator retroactively applied a rule change to show the bank underpaid deposit protection fees to the tune of $1.1 billion.
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April 04, 2018
BofA Must Face $1.1B Deposit Protection Shortfall Suit
The Federal Deposit Insurance Corp. scored a victory in its $1.1 billion suit against Bank of America Corp. over years of alleged underpayments for deposit protection when a Washington, D.C., federal court shut down the bank's bid to toss the suit.
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January 09, 2017
FDIC Sues BofA Over $1B Insurance Fund Shortfall
The U.S. regulator charged with insuring bank deposits on Monday sued Bank of America Corp. alleging that years of improper accounting resulted in the bank avoiding more than $1 billion in payments to the federal deposit insurance fund.