Thursday, December 19, 2013

JP Morgan Chase Sues FDIC Over WaMu

After its $13 billion November over shoddy mortgage bond sales, the government left open the bank's ability to sue the Federal Deposit Insurance Corporation regarding some of the liabilities it took on when buying Washington Mutual out of receivership in 2008.

Now the bank is doing just that. JPMorgan said in a court filing late on Tuesday it would sue the FDIC for an indemnification of over $1 billion in liabilities the bank now faces after buying WaMu out of receivership at the depths of the 2008 financial crisis. The lawsuit continues a long-running standoff between JPMorgan and the FDIC over the sale of WaMu out of receivership.

For more information - JPMorgan Sues FDIC on WaMu Receivership - TheStreet

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The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters. We represent investors, financial professionals and investment firms and brokers nationwide. For more information contact Mark Astarita at 212-509-6544 or at email us

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