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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of WaMu Bank, which was the largest savings and loan association in the United States until its collapse in 2008.
Aug 17, 2023 · Washington Mutual (WaMu) was the largest savings and loan association in the U.S. before it collapsed in 2008 due to subprime lending and mortgage-backed securities. JPMorgan Chase bought WaMu in a secret auction by the Federal Reserve to avoid a wider financial crisis.
Oct 12, 2021 · Learn how Washington Mutual (WaMu), a conservative savings and loan bank, failed in 2008 due to subprime mortgages, housing market collapse, and deposit run. Find out who took over WaMu, who suffered the losses, and how the bankruptcy affected the financial crisis.
- Kimberly Amadeo
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Jun 20, 2012 · Kirsten Grind, author of \"The Lost Bank\", reveals the inside story of Washington Mutual, the biggest bank failure in American history. She explains how WaMu's lack of political clout and its CEO's reluctance to sell to JPMorgan Chase contributed to its downfall.
The FDIC was appointed the Receiver of WAMU in 2008 and transferred its assets and liabilities to JPMC. The Receiver settled several lawsuits with JPMC, DBNTC, and FDIC-C, and distributed over $2 billion to claimants.
- I. Introduction
- II. Press Release
- III. Unclaimed Deposits
- V. Banking Services
- VI. Loan Customers
- VII. Possible Claims Against The Failed Institution
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On September 25, 2008, the banking operations of Washington Mutual, Inc - Washington Mutual Bank, Henderson, NV and Washington Mutual Bank, FSB, Park City, UT (Washington Mutual Bank) were sold in a transaction facilitated by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC). The FDIC has assembled useful i...
The FDIC has issued a press release (PR-85-2008) about this transaction. If you represent a media outlet and would like information about the transaction, please contact Andrew Gray(angray@fdic.gov) at 202-898-7192 or 202-494-1049. Back to top
Please note that any deposits that have not been claimed within 18 months of the failure of Washington Mutual Bank FSB was sent to the FDIC by JP Morgan Chase Bank as acquirer of Washington Mutual Bank, FSB on April 15th, 2010. The unclaimed funds will be sent to the appropriate states according to Federal Law (12 U.S.C., 1822(e)). For more informa...
The Automated Teller Machines (ATM) and on line services will remain available. You may continue to use the services to which you previously had access, such as, safe deposit boxes, night deposit boxes, wire services, etc, as normally available at each branch. Your checks will be processed as usual. All outstanding checks will be paid against your ...
If you had a loan with Washington Mutual Bank, you should continue to make your payments as usual. The terms of your loan will not change because they are contractually agreed to in your promissory note. Checks should be made payable as usual and sent to the same address until further notice. For all questions regarding new loans and the lending po...
On September 25, 2008, Washington Mutual Bank was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation was named receiver. Subsequent to the closure, JPMorgan Chase acquired the assets and most of the liabilities, including covered bonds and other secured debt, of Washington Mutual Bank from the FDIC as Receiver ...
Find out what happened to Washington Mutual Bank, which was sold to JPMorgan Chase in 2008 after a receivership by the FDIC. Learn about the status of your accounts, loans, deposits, claims and more.
Jun 11, 2012 · More than 18 months after the largest bank failure in U.S. history, regulators of the collapsed Washington Mutual Inc. faced a day of reckoning Friday, with a key lawmaker accusing them of gross incompetence. By Joe Adler. April 16.
