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March 15, 2010

WaMu settles with JPMorgan, FDIC

WILMINGTON, Del. (AP) — Washington Mutual Inc. says it has resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company's Chapter 11 bankruptcy.

The government agency seized Washington Mutual's flagship bank in 2008 and sold its assets to JPMorgan for $1.9 billion. But the two banking companies and the FDIC have traded lawsuits over roughly $4 billion in disputed deposit accounts.


 
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