Punta Gorda cosiders fate of historic A.C. Freeman HouseStreaming Now: Gov. DeSantis holds news conference in Jacksonville
Punta Gorda cosiders fate of historic A.C. Freeman House It was built by politician and businessman Augustus C. Freeman whose name the house bears, and it was placed on the National Register of Historic Places in 1987.
Jacksonville Streaming Now: Gov. DeSantis holds news conference in Jacksonville Florida Gov. Ron DeSantis is set to hold a news conference in Jacksonville.
BONITA SPRINGS LCSO seeks information on missing 77-year-old kayaker LCSO seeks information on a missing kayaker after responding to a call about a missing kayak off the coast of Bonita Beach.
FORT MYERS Tim Tebow speaks at annual Southwest Florida Community Prayer Breakfast Former Heisman Trophy winner Tim Tebow took the stage at Hammond Stadium for the annual Southwest Florida Community Prayer Breakfast.
FORT MYERS Fort Myers City Council to provide update on Fowler Street construction project The Fort Myers City Council is set to provide an update on the progress of the Fowler Street intersection project.
the weather authority Hot and humid Thursday before evening isolated storms impact coastal communities The Weather Authority is tracking a humid Thursday morning with high afternoon temperatures and evening coastal isolated storms.
FORT MYERS BEACH Sea turtle nesting season begins in Fort Myers Beach Sea turtle nesting season has officially begun, and the FWC wants to remind visitors about the fragility of the young reptiles.
BAREFOOT LAKE Neighbors react to chaos at Barefoot Lake Imagine being scared to leave your home on the weekends. Ana and Anrik understand the feeling all too well.
CAPE CORAL The story of Ollie’s Pub and what kept it open through years of hardships Before Ollie’s housed weekly events, packed to the brim with artwork and home to many, it was a simple dream and an empty space.
Most Wanted Wednesday: Southwest Florida’s most wanted suspects for May 1, 2024 Here are some of Southwest Florida’s most wanted suspects for May 1, 2024.
FORT MYERS BEACH Remembering Fort Myers Beach ‘Mayor’ Brad Benson To know Brad Benson was to know a legend. He recently passed away at the age of 71 after battling health issues.
CAPE CORAL Proposed Cape Coral City Council meeting time change fails In a 4 to 4 vote, the motion to move Cape Coral meeting times from 4:30 to 9 a.m. failed.
Greater Dunbar initiative begins A duplex that has been around since the 1960s and is filled with generations of memories is being demolished.
Caught on camera: funnel clouds, hail and more during thunderstorm Wednesday’s thunderstorms storms have produced hail and funnel clouds.
SOUTHWEST FLORIDA New mammography guidelines Breast cancer is much easier to treat when it’s caught early.
Punta Gorda cosiders fate of historic A.C. Freeman House It was built by politician and businessman Augustus C. Freeman whose name the house bears, and it was placed on the National Register of Historic Places in 1987.
Jacksonville Streaming Now: Gov. DeSantis holds news conference in Jacksonville Florida Gov. Ron DeSantis is set to hold a news conference in Jacksonville.
BONITA SPRINGS LCSO seeks information on missing 77-year-old kayaker LCSO seeks information on a missing kayaker after responding to a call about a missing kayak off the coast of Bonita Beach.
FORT MYERS Tim Tebow speaks at annual Southwest Florida Community Prayer Breakfast Former Heisman Trophy winner Tim Tebow took the stage at Hammond Stadium for the annual Southwest Florida Community Prayer Breakfast.
FORT MYERS Fort Myers City Council to provide update on Fowler Street construction project The Fort Myers City Council is set to provide an update on the progress of the Fowler Street intersection project.
the weather authority Hot and humid Thursday before evening isolated storms impact coastal communities The Weather Authority is tracking a humid Thursday morning with high afternoon temperatures and evening coastal isolated storms.
FORT MYERS BEACH Sea turtle nesting season begins in Fort Myers Beach Sea turtle nesting season has officially begun, and the FWC wants to remind visitors about the fragility of the young reptiles.
BAREFOOT LAKE Neighbors react to chaos at Barefoot Lake Imagine being scared to leave your home on the weekends. Ana and Anrik understand the feeling all too well.
CAPE CORAL The story of Ollie’s Pub and what kept it open through years of hardships Before Ollie’s housed weekly events, packed to the brim with artwork and home to many, it was a simple dream and an empty space.
Most Wanted Wednesday: Southwest Florida’s most wanted suspects for May 1, 2024 Here are some of Southwest Florida’s most wanted suspects for May 1, 2024.
FORT MYERS BEACH Remembering Fort Myers Beach ‘Mayor’ Brad Benson To know Brad Benson was to know a legend. He recently passed away at the age of 71 after battling health issues.
CAPE CORAL Proposed Cape Coral City Council meeting time change fails In a 4 to 4 vote, the motion to move Cape Coral meeting times from 4:30 to 9 a.m. failed.
Greater Dunbar initiative begins A duplex that has been around since the 1960s and is filled with generations of memories is being demolished.
Caught on camera: funnel clouds, hail and more during thunderstorm Wednesday’s thunderstorms storms have produced hail and funnel clouds.
SOUTHWEST FLORIDA New mammography guidelines Breast cancer is much easier to treat when it’s caught early.
Mike Mozart/ Flickr/ MGN WASHINGTON, D.C. (CNN Money) — Bank of America is being accused of stiffing the Federal Deposit Insurance Corp., the government agency that insures people’s deposits against a bank failure. The FDIC filed a lawsuit in federal court on Monday demanding that Bank of America pay $542 million it owes to the regulator’s deposit insurance fund. “Because Bank of America refuses to pay, the FDIC seeks relief from this Court,” the suit in federal court in Washington said. The reason: Bank of America underreported a key risk metric by tens of billions of dollars during the final three quarters of 2013 and all of 2014, the lawsuit said. The FDIC said that allowed BofA to appear less risky than it really was — and avoid paying the FDIC an average of $77 million each quarter into the agency’s deposit insurance fund. The FDIC insures customers’ deposits up to $250,000 in case a bank collapses. That’s why even though hundreds of banks went belly up during the 2008 crisis, Americans didn’t lose money that was kept in FDIC-insured accounts. Banks of all sizes must pay into the insurance fund, which currently has nearly $81 billion. The FDIC said this is the first time it has filed suit against a bank to recover insurance fees in more than two decades. The insurance premiums are calculated based on the risk level of banks. Not only do the banks have to spell out their own risk exposure, but also those of their business partners. A 2014 FDIC rule change requires big banks to add up their total exposure to business partners by their parent company rather than by individual entity. For instance, Goldman Sachs has to break out its total exposure to all of Facebook instead of listing individual subsidiaries like Instagram and WhatsApp. The thinking is that banks with more concentrated “counterparty” exposure are at more risk of getting into financial trouble. The FDIC said Bank of America failed to divulge this risk. The lawsuit said Bank of America was the only bank, out of the nine that are required to do this, that failed to report this kind of exposure. Bank of America, however, disputes the FDIC claims. It said in a statement there is a “technical disagreement” over the 2014 rule change but that it believes it’s in compliance. “We look forward to the court’s review,” the bank said. Eugene Scalia, a lawyer from Gibson Dunn who represents Bank of America, questioned how the FDIC could have been unaware of the bank’s approach to this issue. The FDIC “received reports from the bank each quarter which made crystal clear what approach the bank was taking,” Scalia said. Bank of America and the FDIC had been in talks about the issue. “They agreed to provide us additional information, but recently they indicated that they felt they must file suit by mid-January,” he said. It’s unclear if the FDIC wanted to file the lawsuit before the arrival of President-elect Donald Trump, who has promised to dial back regulation, including on banks. A person familiar with the FDIC’s thinking said the lawsuit was triggered by a statute of limitations issue, not a change in administration.