Capital One Owes $99.5 Million for SVB Bailout, FDIC Claims

Capital One Financial Corp. owes the federal government around $99.5 million to help cover the costs of bailing out customers at Silicon Valley Bank and Signature Bank in 2023, the Federal Deposit Insurance Corp. said.

Capital One and its retail banking subsidiary sued the FDIC in September, alleging the regulator was seeking $150 million more than the bank owed under a special assessment of its uninsured deposits meant to replenish the Deposit Insurance Fund.

But Capital One is undercounting the amount of uninsured deposits that were on its books at the time of the special assessment, the FDIC said in ...