


A federal judge has ordered Bank of America to pay more than $540 million to resolve long-running litigation from a U.S. regulator that alleged the company underpaid mandatory assessments for deposit insurance.
The order, reached March 31 and published publicly on Monday, arrives over eight years after the Federal Deposit Insurance Corporation sued Bank of America in 2017.
“We are pleased the judge has ruled and have reserves reflecting the decision,” Bank of America said in a statement. The FDIC declined to comment Tuesday.
After a yearslong legal battle, U.S. District Judge Loren L. AliKhan in Washington, D.C. said that the nearly $540.3 million payment from Bank of America would cover its underpaid assessments spanning from the second quarter of 2013 through the end of 2014’s fiscal year, plus interest — but ruled that the FDIC waited too long to sue over earlier claims.
State officials announced plans to connect Massachusetts businesses to alternative supply chains and gain more information from companies to better understand how they are affected by President Donald Trump’s tariffs.
The Massachusetts Tariff Response and Business Operations Support Initiative was launched with the Massachusetts Technology Collaborative. CEO Carolyn Kirk said the center is “tapped into a strong network of businesses, academic institutions and local governments, working together to build a resilient manufacturing ecosystem.”
The initiative also includes a survey for companies to “share how they are impacted by the tariffs so that the state can help them develop response plans, identify their continuity needs, and connect them to alternative supply chains here in Massachusetts and across the region.”