Legal
New York Sues FDIC Over $44 Million in Unpaid Taxes by Failed Signature Bank
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New York City sued the Federal Deposit Insurance Corp. in its capacity as receiver for the failed Signature Bank, saying the US regulator owes about $44 million in unpaid municipal taxes.
The city’s department of finance audited Signature after the bank shuttered in March and found tax deficiencies for years 2015 through 2021 related to unreported income allocation and adjustments to investment and capital income, according to a lawsuit filed Monday in federal court in Manhattan.