Op risk data: BofA biffed for $540m over insurance fund swerve
Also: Suspected French Ponzi, Banco Itaú’s overcharging kerfuffle, and power outage in Iberia. Data by ORX News
The largest operational risk loss in April was $540.3 million that Bank of America was ordered to pay to the Federal Deposit Insurance Corporation in a long-running court case over payments into the banking regulator’s insurance fund. The FDIC had claimed that Bank of America miscalculated and underreported its counterparty exposures from the second quarter of 2013 to the end of 2014, resulting
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