You may have noticed this problem first when you attempt to copy data to the USB Flash Drive, you get an error that says the drive needs to be formatted. Then when you attempt to format the drive, you get a Parameter error.
This problem can also be caused by the drive being unplugged while data is being transferred. This can corrupt the drive and cause the volume to be unrecognizable. In some cases, software can be used to erase the drive and prepare it for formatting but it is probably best to have the drive replaced.