A top U.S. banking regulator said on Friday that PricewaterhouseCoopers will pay...
FILE PHOTO: The exterior of PricewaterhouseCoopers is seen in Washington, DC, U.S. December 6, 2017. REUTERS/Mike Stone
PwC did not confirm or deny the claims, but agreed to pay the settlement fine, the Federal Deposit Insurance Corporation said in a statement. Martin Gruenberg, an FDIC board member and its former chairman, dissented from the settlement because it did not require PwC to admit liability. At the time, PwC had argued that the FDIC could recover $306.7 million at most, and that no damages were justified because numerous Colonial employees had interfered with its audits.
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