YOUR BUSINESS AUTHORITY

Springfield, MO

Bank of America sued by FDIC

Posted online
The Federal Deposit Insurance Corp. filed suit yesterday against Bank of America.

The government agency alleges Bank of America owes $542 million to the regulator's deposit insurance fund.

The suit claims Bank of America underreported a key risk metric by tens of billions of dollars during the final three quarters of 2013 and all of 2014. The FDIC alleges that move allowed Bank of America to appear less risky than it actually was and avoid paying fees to the FDIC.

Read more from CNNMoney.

[[In-content Ad]]

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Life after KY3: Former employees settle into new gigs after layoffs

The ousted professionals are finding their footings in new careers.

Most Read
SBJ Live logo
MOST-WATCHED VIDEOS
Consistent Marketing

 “Marketing for a company can be very interesting, in the sense that it’s hard to stand out in the crowd from everyone else,” says Alisa Lawler, Vice President of Marketing and Business …

Booked - The 7 Habits of Highly Effective People “I think it’s a really great book and I wish I had read it earlier in my career,” says Candida Deckard, the Director of Human Resources and Safety at CNH Industrial Reman and one of Springfield …
From Concept to Completion “Every day we’re still learning. We’re not perfect, but we’re trying to get there,” says Cosmo Kwon, Co-Owner of Hinode in Nixa, Mo. Kwon says there is a huge difference in purchasing an …
Building on Each Other’s Strengths “To be good at business, or whatever you do, you need know what you can do and what you’re not good at,” says Eric Jones, co-owner of United States of Apparel. “When you’re not good at …
Carry On: Dealing with Overwhelm Do you feel overwhelmed? Is it a skill issue, a mindset issue or both? Marlene Chism, author, consultant and expert on stopping workplace drama, has some tips to help you deal with these situations. …