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

Reuters

04/15

April 14 (Reuters) - A federal judge ordered Bank of America BAC.N 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)

((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))

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