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0 -0.00141377500145813 -0.00116379513872495 -0.00156098536506778 0.000491627063375445 0.000744384480139181 0.00319418713492524 -0.00118601557096789
Stock impact report

FDIC countersues Capital One over Silicon Valley, Signature bank collapses [Yahoo! Finance Canada]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Capital One was sued on Monday night in the federal court in Alexandria, Virginia,? two months after the sixth-largest U.S. commercial bank filed its own lawsuit accusing the FDIC of trying to charge $149.2 million too much. At issue is whether Capital One underreported its uninsured deposits by excluding a $56 billion position between two subsidiaries from regulatory reports ?describing the McLean, Virginia-?based bank's financial health. The FDIC uses deposit data when calculating special assessments it charges banks to recoup losses to its deposit insurance fund when ?banks fail. Capital One had no immediate comment on Tuesday. The FDIC did not immediately respond to requests for comment. In its countersuit, the FDIC said that excluding the $56 billion position led Capital ?One to calculate a $324.84 million special assessment for the two bank failures, ?not the correct $474.08 million amount. About $99.4 million remains unpaid, the FDIC said. "There are no time machines Show less Read more
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