LAW360 - Law 360
Bank of America Must Pay Interest on $540 Million Debt A D.C. federal judge ruled that Bank of America NA must pay interest on a $540 million debt owed to the Federal Deposit Insurance Corp. The interest will be calculated using a government-set rate for the period before the ruling and a standard federal rate for the period after. This decision advances the resolution of the dispute over the appropriate interest calculation formulas.
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