California, FDIC Settle Dispute Over Signature Bank’s Unpaid Tax

The Federal Deposit Insurance Corp. and California’s tax board have settled the liability over the unpaid taxes of the failed Signature Bank.

The FDIC and the California Franchise Tax Board on Monday informed the US District Court for the Southern District of New York that they would end the case brought by the state over Signature Bank’s income taxes for five tax years from 2016 to 2023. Terms of the settlement were not disclosed in the memo.

Also on Monday Judge Mary Kay Vyskocil denied a motion by CFTB to restore the action to the docket until September 8—one weak ...