JPMorgan is suing the Federal Deposit Insurance Corp. to recover more than $1 billion tied to its purchase of Washington Mutual when that bank failed in 2008.
December 18, 2013 at 12:00 AM
1 minute read
JPMorgan is suing the Federal Deposit Insurance Corp. to recover more than $1 billion tied to its purchase of Washington Mutual when that bank failed in 2008.
In a federal court complaint, the biggest U.S. bank said that the FDIC failed to honor obligations under the Washington Mutual agreement, and that has subjected JP Morgan to massive liability.
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