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FDIC sues BoA for $542 million
Chris Hamblin
10 January 2017
The bank, for its part, is unabashed and looking forward to the court's eventual decision. The regulator is saying that this is the first time in two decades that it has had to go to court to recover unpaid deposit insurance fees. The writ reportedly says that the bank came up with the wrong figures as an expression of its exposure to risk, thereby eventually understating the amounts of insurance protection it needed for its 20 largest counterparties.