Washington, September 12 (Patrika English News): Capital One has filed a lawsuit against the Federal Deposit Insurance Corporation (FDIC), accusing the U.S. regulator of overcharging it by $149.2 million in a special assessment linked to the 2023 collapses of Silicon Valley Bank and Signature Bank.
In a complaint filed Wednesday in federal court in Alexandria, Virginia, Capital One argued that the FDIC wrongly classified $56.2 billion of internal positions between two subsidiaries as uninsured deposits. This, the bank said, improperly inflated its share of the $474.1 million bill.
The McLean, Virginia-based lender, the sixth-largest U.S. commercial bank, said years of communication with the FDIC had failed to resolve the dispute. It has asked the court to declare that it does not owe the contested amount or related penalties.
In July, Capital One warned it might need to set aside up to $200 million to cover the potential liability. The FDIC, which expects to recover $18.6 billion from 111 banks through special assessments, declined to comment.
The case is Capital One NA v FDIC, U.S. District Court, Eastern District of Virginia, No. 25-01515.